W. P. Carey Inc. (NYSE:WPC) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,381 shares of the real estate investment trust’s stock after purchasing an additional 193 shares during the period. HighTower Advisors LLC’s holdings in W. P. Carey were worth $2,418,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service purchased a new position in W. P. Carey in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the fourth quarter worth approximately $37,000. RPg Family Wealth Advisory LLC purchased a new position in W. P. Carey in the third quarter worth approximately $44,000. Plato Investment Management Ltd purchased a new position in W. P. Carey in the fourth quarter worth approximately $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey in the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Royal Bank of Canada lifted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank boosted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Up 0.0 %

WPC stock opened at $61.62 on Friday. The company has a fifty day moving average price of $59.29 and a 200 day moving average price of $58.38. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.89 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.78%. W. P. Carey’s dividend payout ratio is 170.33%.

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.