Kestra Private Wealth Services LLC Has $1.36 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Kestra Private Wealth Services LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 289.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,008 shares of the real estate investment trust’s stock after purchasing an additional 18,588 shares during the period. Kestra Private Wealth Services LLC’s holdings in W. P. Carey were worth $1,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after purchasing an additional 479,973 shares in the last quarter. FMR LLC grew its stake in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after purchasing an additional 400,782 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in W. P. Carey by 274.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after purchasing an additional 297,432 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

NYSE WPC opened at $57.64 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26. The business has a 50 day simple moving average of $55.33 and a 200 day simple moving average of $57.60. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.11%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is 138.58%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Scotiabank decreased their price objective 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. Barclays reduced their price objective 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. UBS Group cut their price target 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. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.00.

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.