Kestra Private Wealth Services LLC Has $1.36 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Kestra Private Wealth Services LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 289.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 25,008 shares of the real estate investment trust’s stock after acquiring an additional 18,588 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in W. P. Carey were worth $1,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC increased its position in shares of W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 0.7% in 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 purchasing an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $1,692,000. abrdn plc boosted its holdings in shares of W. P. Carey by 9.9% in the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after buying an additional 9,229 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after buying an additional 2,075 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Up 2.7 %

WPC opened at $57.64 on Thursday. The stock has a fifty day moving average of $55.33 and a 200-day moving average of $57.60. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The company has a market capitalization of $12.61 billion, a P/E ratio of 22.69, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.11%. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

Analysts Set New Price Targets

WPC has been the topic of several analyst reports. Scotiabank dropped their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. UBS Group dropped 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. Barclays reduced their price target 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, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.