GoalVest Advisory LLC Purchases 2,589 Shares of W. P. Carey Inc. (NYSE:WPC)

GoalVest Advisory LLC lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 409.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,221 shares of the real estate investment trust’s stock after purchasing an additional 2,589 shares during the period. GoalVest Advisory LLC’s holdings in W. P. Carey were worth $182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WPC. CIC Wealth LLC lifted its position in shares of W. P. Carey by 26.6% during the 1st quarter. CIC Wealth LLC now owns 10,128 shares of the real estate investment trust’s stock worth $572,000 after buying an additional 2,125 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its holdings in W. P. Carey by 59.5% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 81,759 shares of the real estate investment trust’s stock worth $4,551,000 after acquiring an additional 30,491 shares during the period. Riverview Trust Co purchased a new position in W. P. Carey in the first quarter worth $28,000. Austin Private Wealth LLC boosted its position in W. P. Carey by 10.2% in the first quarter. Austin Private Wealth LLC now owns 8,821 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 814 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new position in W. P. Carey in the 1st quarter valued at $1,038,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE:WPC opened at $55.63 on Friday. The business’s fifty day moving average is $56.71 and its 200 day moving average is $58.85. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38.

W. P. Carey Increases Dividend

The business also recently declared 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. 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 6.26%. W. P. Carey’s dividend payout ratio is currently 131.56%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group started coverage on shares of W. P. Carey in a report on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target on the stock. Barclays started coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Wells Fargo & Company reduced their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average price target of $59.70.

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.