Willis Johnson & Associates Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Willis Johnson & Associates Inc. purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the 1st quarter, HoldingsChannel reports. The fund purchased 4,055 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other large investors have also recently modified their holdings of WPC. Raleigh Capital Management Inc. raised its position in W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 191 shares during the last quarter. SRS Capital Advisors Inc. raised its position in W. P. Carey by 1.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 191 shares during the last quarter. Gradient Capital Advisors LLC grew its stake in shares of W. P. Carey by 0.6% during the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock valued at $2,215,000 after purchasing an additional 199 shares during the period. Fisher Asset Management LLC grew its stake in shares of W. P. Carey by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock valued at $441,000 after purchasing an additional 209 shares during the period. Finally, Quent Capital LLC grew its stake in shares of W. P. Carey by 32.0% during the 4th quarter. Quent Capital LLC now owns 969 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.13 during mid-day trading on Thursday, reaching $54.89. 587,453 shares of the company traded hands, compared to its average volume of 1,354,819. The company’s 50 day moving average price is $56.60 and its 200-day moving average price is $58.55. The firm has a market cap of $12.01 billion, a PE ratio of 20.87, a PEG ratio of 1.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick 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 disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.34%. W. P. Carey’s payout ratio is 132.32%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WPC. Scotiabank boosted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Wells Fargo & Company cut their price target on 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, Barclays began coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average target price 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.