W. P. Carey Inc. (NYSE:WPC) Position Increased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 23.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,264 shares of the real estate investment trust’s stock after buying an additional 2,155 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in W. P. Carey were worth $614,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WPC. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey during the fourth quarter worth $37,000. Maia Wealth LLC acquired a new position in W. P. Carey during the third quarter worth $40,000. Abich Financial Wealth Management LLC increased its position in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares during the last quarter. Fortitude Family Office LLC increased its position in W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey during the third quarter worth $44,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Barclays lowered their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.00.

W. P. Carey Stock Down 0.3 %

WPC stock opened at $58.72 on Friday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company has a market cap of $12.85 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The business’s 50-day simple moving average is $55.44 and its 200 day simple moving average is $57.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 5.99%. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

W. P. Carey Company 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.