Carnegie Lake Advisors LLC Has $902,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Carnegie Lake Advisors LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,565 shares of the real estate investment trust’s stock after acquiring an additional 535 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in W. P. Carey were worth $902,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Summit Trail Advisors LLC bought a new position in shares of W. P. Carey in the 4th quarter valued at $201,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the fourth quarter valued at about $37,000. Wealthstar Advisors LLC bought a new position in W. P. Carey in the fourth quarter valued at about $863,000. Kestra Private Wealth Services LLC raised its stake in W. P. Carey by 289.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,008 shares of the real estate investment trust’s stock worth $1,362,000 after acquiring an additional 18,588 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of W. P. Carey by 3.0% in the fourth quarter. Stephens Inc. AR now owns 13,392 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 392 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $55.78 on Tuesday. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.02 and a beta of 0.97. 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 Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company’s fifty day moving average is $55.28 and its 200 day moving average is $57.63.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a boost 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 6.31%. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research reports. Scotiabank decreased their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays decreased 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 note on Tuesday, February 4th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.00.

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.