Sanctuary Advisors LLC Raises Stake in W. P. Carey Inc. (NYSE:WPC)

Sanctuary Advisors LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 25.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 44,618 shares of the real estate investment trust’s stock after buying an additional 9,036 shares during the period. Sanctuary Advisors LLC’s holdings in W. P. Carey were worth $2,484,000 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. Creative Planning increased its stake in W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the last quarter. Blue Trust Inc. increased its stake in W. P. Carey by 64.8% in the 3rd quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 613 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in W. P. Carey by 70.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 341 shares during the last quarter. Eastern Bank bought a new position in W. P. Carey in the 3rd quarter worth about $60,000. Finally, International Assets Investment Management LLC increased its stake in W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after acquiring an additional 400,782 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research analyst reports. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Barclays reduced their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.38.

W. P. Carey Trading Up 0.8 %

Shares of WPC stock opened at $61.68 on Friday. The stock has a market capitalization of $13.50 billion, a PE ratio of 29.51, a P/E/G ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26. The business has a 50-day moving average of $55.87 and a 200 day moving average of $57.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.71%. W. P. Carey’s dividend payout ratio is currently 168.42%.

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.