C2C Wealth Management LLC Buys 500 Shares of W. P. Carey Inc. (NYSE:WPC)

C2C Wealth Management LLC raised its stake in W. P. Carey Inc. (NYSE:WPC) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,263 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. C2C Wealth Management LLC’s holdings in W. P. Carey were worth $668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. National Pension Service bought a new position in W. P. Carey during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey in the 4th quarter valued at $37,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey during the 4th quarter valued at $37,000. Plato Investment Management Ltd bought a new position in shares of W. P. Carey during the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey in the 4th quarter worth $58,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WPC shares. Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price objective 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. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company increased their price target on shares of 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Trading Up 0.4 %

Shares of WPC opened at $62.67 on Friday. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95. The firm’s 50-day moving average price is $60.04 and its 200-day moving average price is $58.41. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey’s dividend 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.