Concurrent Investment Advisors LLC Increases Position in W. P. Carey Inc. (NYSE:WPC)

Concurrent Investment Advisors LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,531 shares of the real estate investment trust’s stock after buying an additional 293 shares during the period. Concurrent Investment Advisors LLC’s holdings in W. P. Carey were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ieq Capital LLC acquired a new position in W. P. Carey during the fourth quarter worth $227,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in W. P. Carey during the fourth quarter worth $315,000. Atria Wealth Solutions Inc. lifted its stake in W. P. Carey by 55.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 102,073 shares of the real estate investment trust’s stock worth $5,567,000 after purchasing an additional 36,354 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of W. P. Carey by 13.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,814 shares of the real estate investment trust’s stock worth $480,000 after acquiring an additional 1,066 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of W. P. Carey by 25.4% during the fourth quarter. Sanctuary Advisors LLC now owns 44,618 shares of the real estate investment trust’s stock worth $2,484,000 after acquiring an additional 9,036 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of WPC opened at $61.68 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.50 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company’s 50 day simple moving average is $55.87 and its 200-day simple moving average is $57.70. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.71%. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WPC shares. Scotiabank cut 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. 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 research report on Thursday, November 14th. 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 note on Thursday, February 13th. Barclays lowered their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average price target of $62.38.

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.