5,785 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,785 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Several other large investors have also recently added to or reduced their stakes in WPC. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey during the fourth quarter worth about $37,000. Maia Wealth LLC purchased a new position in W. P. Carey during the third quarter worth about $40,000. Abich Financial Wealth Management LLC lifted 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 period. Fortitude Family Office LLC lifted 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 period. Finally, RPg Family Wealth Advisory LLC purchased a new position in W. P. Carey during the third quarter worth about $44,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WPC. Barclays cut their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $67.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price of $62.38.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $61.17 on Friday. The company has a market cap of $13.39 billion, a P/E ratio of 29.27, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26. The business’s 50-day simple moving average is $55.78 and its 200 day simple moving average is $57.64.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 168.42%.

About W. P. Carey

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.