Golden State Wealth Management LLC Purchases Shares of 1,622 W. P. Carey Inc. (NYSE:WPC)

Golden State Wealth Management LLC acquired a new position in W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,622 shares of the real estate investment trust’s stock, valued at approximately $88,000.

A number of other hedge funds have also bought and sold shares of the business. Millennium Management LLC bought a new stake in shares of W. P. Carey during the 2nd quarter valued at $4,043,000. GAMMA Investing LLC boosted its position in W. P. Carey by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 212 shares in the last quarter. UMB Bank n.a. grew its stake in W. P. Carey by 53.6% in the third quarter. UMB Bank n.a. now owns 1,442 shares of the real estate investment trust’s stock worth $90,000 after purchasing an additional 503 shares during the period. LVW Advisors LLC purchased a new position in W. P. Carey during the 3rd quarter valued at about $212,000. Finally, Gateway Investment Advisers LLC boosted its position in shares of W. P. Carey by 16.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 81,658 shares of the real estate investment trust’s stock worth $5,087,000 after purchasing an additional 11,561 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Down 0.0 %

Shares of W. P. Carey stock opened at $56.08 on Monday. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26. The company has a market capitalization of $12.27 billion, a PE ratio of 22.08, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $55.29 and a 200-day moving average of $57.65.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

Analysts Set New Price Targets

WPC has been the subject of several research analyst reports. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Scotiabank decreased their target price on shares of 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. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, Barclays reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.00.

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.