Steward Partners Investment Advisory LLC Buys 979 Shares of W. P. Carey Inc. (NYSE:WPC)

Steward Partners Investment Advisory LLC boosted its holdings in W. P. Carey Inc. (NYSE:WPC) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,866 shares of the real estate investment trust’s stock after acquiring an additional 979 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in W. P. Carey were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WPC. RFG Advisory LLC raised its stake in shares of 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 in the last quarter. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% during 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 acquiring an additional 9,610 shares in the last quarter. Stifel Financial Corp raised its stake in shares of W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after acquiring an additional 2,075 shares in the last quarter. FMR LLC raised its stake in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after acquiring an additional 409,593 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of W. P. Carey during the third quarter worth approximately $1,267,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays lifted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group cut their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Stock Performance

NYSE:WPC opened at $63.05 on Wednesday. The stock has a market cap of $13.80 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The firm’s fifty day simple moving average is $57.95 and its 200 day simple moving average is $58.23. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.58%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

W. P. Carey Company 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.