NewEdge Advisors LLC Has $447,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

NewEdge Advisors LLC lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,196 shares of the real estate investment trust’s stock after purchasing an additional 485 shares during the quarter. NewEdge Advisors LLC’s holdings in W. P. Carey were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service acquired a new stake in W. P. Carey during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the 4th quarter worth about $37,000. Millstone Evans Group LLC acquired a new stake in W. P. Carey during the 4th quarter worth about $37,000. Bessemer Group Inc. boosted its position in W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 402 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in W. P. Carey during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WPC shares. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Barclays boosted their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company upped 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. Finally, Royal Bank of Canada lifted their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Price Performance

Shares of WPC stock opened at $60.81 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The firm has a fifty day moving average of $61.64 and a 200-day moving average of $58.12. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.85%. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is presently 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.