Modern Wealth Management LLC Has $501,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Modern Wealth Management LLC increased its holdings in W. P. Carey Inc. (NYSE:WPC) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,998 shares of the real estate investment trust’s stock after purchasing an additional 714 shares during the quarter. Modern Wealth Management LLC’s holdings in W. P. Carey were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of W. P. Carey by 12.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock worth $12,016,000 after purchasing an additional 21,563 shares during the period. FMR LLC raised its stake in 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 worth $50,219,000 after buying an additional 409,593 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in W. P. Carey by 138.0% in the third quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust’s stock valued at $19,083,000 after buying an additional 177,617 shares during the period. Townsquare Capital LLC boosted its position in W. P. Carey by 5.2% during the third quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 550 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in W. P. Carey by 14.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 523 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Stock Down 0.7 %

W. P. Carey stock opened at $62.44 on Friday. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The firm’s fifty day moving average price is $59.90 and its two-hundred day moving average price is $58.43. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.70%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

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.