Golden State Wealth Management LLC Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

Golden State Wealth Management LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,622 shares of the real estate investment trust’s stock, valued at approximately $88,000.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after buying an additional 264,230 shares during the period. Finally, Equity Investment Corp raised its holdings 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 valued at $92,305,000 after acquiring an additional 9,610 shares during the period. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Barclays reduced their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Finally, Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.00.

W. P. Carey Trading Down 0.0 %

Shares of WPC stock opened at $56.08 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The firm’s fifty day simple moving average is $55.29 and its 200 day simple moving average is $57.65. The firm has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 138.58%.

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.