Sanctuary Advisors LLC Buys 9,036 Shares of W. P. Carey Inc. (NYSE:WPC)

Sanctuary Advisors LLC grew its stake in W. P. Carey Inc. (NYSE:WPC) by 25.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,618 shares of the real estate investment trust’s stock after purchasing an additional 9,036 shares during the quarter. Sanctuary Advisors LLC’s holdings in W. P. Carey were worth $2,484,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares during the period. Equity Investment Corp boosted its position in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in W. P. Carey in the third quarter worth $1,692,000. abrdn plc boosted its position in W. P. Carey by 9.9% in the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after purchasing an additional 9,229 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the topic of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays cut their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. 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 upped their price target on 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, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price of $62.38.

W. P. Carey Stock Up 0.8 %

Shares of NYSE WPC opened at $61.68 on Friday. The business’s fifty day moving average price is $55.87 and its 200-day moving average price is $57.69. The stock has a market capitalization of $13.50 billion, a PE ratio of 29.51, a P/E/G ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.71%. W. P. Carey’s dividend payout ratio is 168.42%.

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.