HighPoint Advisor Group LLC Makes New $3.67 Million Investment in W. P. Carey Inc. (NYSE:WPC)

HighPoint Advisor Group LLC purchased a new position in shares of W. P. Carey Inc. (NYSE:WPCFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,638 shares of the real estate investment trust’s stock, valued at approximately $3,671,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $27,000. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey in the fourth quarter valued at about $28,000. FNY Investment Advisers LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth about $32,000. EdgeRock Capital LLC acquired a new position in W. P. Carey in the 4th quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in W. P. Carey during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WPC. Royal Bank of Canada cut their price target on 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. UBS Group began coverage on shares of W. P. Carey in a research note 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 stock a “sector perform” rating in a report on Thursday, May 16th. 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 report on Thursday, May 30th. Finally, Barclays initiated coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $61.55.

Check Out Our Latest Research Report on W. P. Carey

W. P. Carey Price Performance

WPC stock traded up $0.42 during midday trading on Tuesday, hitting $55.88. 83,384 shares of the stock were exchanged, compared to its average volume of 1,298,082. The stock’s 50-day moving average price is $56.64 and its 200-day moving average price is $59.26. 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 cap of $12.23 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.04 and a beta of 0.91. 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 declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 131.56%.

W. P. Carey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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