Concurrent Investment Advisors LLC Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Concurrent Investment Advisors LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,531 shares of the real estate investment trust’s stock after purchasing an additional 293 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in W. P. Carey were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey during the 4th quarter worth about $37,000. Maia Wealth LLC purchased a new stake in W. P. Carey during the 3rd quarter worth about $40,000. Fortitude Family Office LLC increased its position in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in W. P. Carey during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on WPC. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.38.

W. P. Carey Stock Performance

NYSE WPC opened at $61.68 on Monday. The firm has a market capitalization of $13.50 billion, a P/E 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 company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day simple moving average is $55.87 and its 200-day simple moving average is $57.70.

W. P. Carey Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change 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 payout ratio is 168.42%.

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.