GAMMA Investing LLC Purchases 269 Shares of W. P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 26.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282 shares of the real estate investment trust’s stock after purchasing an additional 269 shares during the quarter. GAMMA Investing LLC’s holdings in W. P. Carey were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in W. P. Carey during the third quarter valued at $613,000. FMR LLC grew its holdings in shares of W. P. Carey by 1.8% during the third quarter. FMR LLC now owns 262,809 shares of the real estate investment trust’s stock worth $14,213,000 after purchasing an additional 4,685 shares in the last quarter. Invesco Ltd. increased its position in shares of W. P. Carey by 3.5% in the third quarter. Invesco Ltd. now owns 425,639 shares of the real estate investment trust’s stock worth $23,019,000 after purchasing an additional 14,318 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in W. P. Carey in the third quarter valued at approximately $1,044,000. Finally, Covestor Ltd lifted its position in W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 595 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $55.12 on Monday. The company has a 50 day moving average of $56.58 and a 200 day moving average of $59.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38. The firm has a market cap of $12.06 billion, a P/E ratio of 20.96, a PEG ratio of 1.04 and a beta of 0.91.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 6.31%. W. P. Carey’s dividend payout ratio (DPR) is 131.56%.

Analyst Ratings Changes

Several research firms have recently weighed in on WPC. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday. Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. UBS Group initiated coverage on W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 target price for the company. Scotiabank increased their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Finally, Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average price target of $59.70.

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.