SVB Wealth LLC Takes Position in W. P. Carey Inc. (NYSE:WPC)

SVB Wealth LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,795 shares of the real estate investment trust’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WPC. Cohen & Steers Inc. lifted its position in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares in the last quarter. Norges Bank acquired a new position in W. P. Carey in the 4th quarter valued at $157,107,000. Daiwa Securities Group Inc. raised its stake in W. P. Carey by 44.7% in 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 purchasing an additional 1,124,010 shares during the last quarter. Equity Investment Corp acquired a new position in W. P. Carey in the 1st quarter valued at $59,802,000. Finally, Principal Financial Group Inc. raised its stake in W. P. Carey by 4,716.5% in the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after purchasing an additional 785,766 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $60.83 on Wednesday. The business has a 50-day moving average of $56.80 and a 200 day moving average of $57.53. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $68.70. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 5.72%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Royal Bank of Canada cut their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Wells Fargo & Company cut their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $61.00.

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.