W. P. Carey Inc. (NYSE:WPC) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 32.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,940 shares of the real estate investment trust’s stock after buying an additional 4,433 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in W. P. Carey were worth $1,013,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WPC. Daiwa Securities Group Inc. lifted its position in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Norges Bank purchased a new position in W. P. Carey in the 4th quarter worth about $157,107,000. Russell Investments Group Ltd. raised its holdings in shares of W. P. Carey by 99.7% during the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock valued at $22,810,000 after acquiring an additional 175,347 shares during the period. Principal Securities Inc. acquired a new position in W. P. Carey in the 4th quarter worth approximately $951,000. Finally, M&T Bank Corp lifted its holdings in shares of W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock valued at $2,024,000 after purchasing an additional 825 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WPC shares. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. UBS Group began coverage on shares of W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 target price for the company. Finally, Scotiabank increased their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Price Performance

Shares of NYSE WPC traded down $0.01 during trading on Friday, reaching $54.88. The company had a trading volume of 163,294 shares, compared to its average volume of 1,315,313. The stock has a market cap of $12.01 billion, a PE ratio of 20.87, a PEG ratio of 1.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $56.58 and its 200-day moving average price is $58.53. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.34%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is presently 132.32%.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.