18,391 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by Global Assets Advisory LLC

Global Assets Advisory LLC bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,391 shares of the real estate investment trust’s stock, valued at approximately $1,038,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of W. P. Carey by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after buying an additional 657,188 shares during the last quarter. Cohen & Steers Inc. raised its position in W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after acquiring an additional 5,407,289 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of W. P. Carey by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock valued at $196,902,000 after acquiring an additional 43,959 shares during the period. Finally, Legal & General Group Plc grew its position in shares of W. P. Carey by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock valued at $153,352,000 after acquiring an additional 37,055 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

WPC opened at $55.07 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.03 and a beta of 0.91. The company has a fifty day moving average of $56.69 and a 200 day moving average of $58.87. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.32%. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

Analyst Ratings Changes

WPC has been the topic of several analyst reports. UBS Group started coverage on W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 target price on the stock. Barclays began coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Finally, Scotiabank raised their price objective 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. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.