Modern Wealth Management LLC Buys 714 Shares of W. P. Carey Inc. (NYSE:WPC)

Modern Wealth Management LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,998 shares of the real estate investment trust’s stock after acquiring an additional 714 shares during the quarter. Modern Wealth Management LLC’s holdings in W. P. Carey were worth $501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service bought a new stake in W. P. Carey during the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey during the 4th quarter worth $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey in the 4th quarter worth about $37,000. RPg Family Wealth Advisory LLC purchased a new stake in W. P. Carey during the third quarter worth about $44,000. Finally, Plato Investment Management Ltd bought a new stake in W. P. Carey in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $62.44 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The stock’s 50-day simple moving average is $59.90 and its 200 day simple moving average is $58.43.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank upped their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Barclays upped their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.75.

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.