Adams Wealth Management Acquires 2,930 Shares of W. P. Carey Inc. (NYSE:WPC)

Adams Wealth Management grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 33.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,675 shares of the real estate investment trust’s stock after purchasing an additional 2,930 shares during the period. Adams Wealth Management’s holdings in W. P. Carey were worth $635,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WPC. CANADA LIFE ASSURANCE Co raised its holdings in W. P. Carey by 3.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 454,720 shares of the real estate investment trust’s stock valued at $24,766,000 after acquiring an additional 14,505 shares during the period. Demars Financial Group LLC raised its stake in shares of W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares during the period. NewEdge Advisors LLC lifted its holdings in W. P. Carey by 6.3% during the 4th quarter. NewEdge Advisors LLC now owns 8,196 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 485 shares in the last quarter. CacheTech Inc. boosted its stake in W. P. Carey by 33.5% in the 4th quarter. CacheTech Inc. now owns 11,675 shares of the real estate investment trust’s stock worth $635,000 after purchasing an additional 2,930 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in W. P. Carey by 188.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 56,396 shares of the real estate investment trust’s stock valued at $3,072,000 after buying an additional 36,824 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Price Performance

WPC opened at $62.18 on Friday. 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 stock has a market capitalization of $13.62 billion, a P/E ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. The stock has a 50-day moving average price of $61.28 and a 200-day moving average price of $58.10. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.89 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.73%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 170.33%.

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.