C2C Wealth Management LLC Grows Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

C2C Wealth Management LLC lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,263 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. C2C Wealth Management LLC’s holdings in W. P. Carey were worth $668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock worth $1,679,110,000 after acquiring an additional 242,576 shares in the last quarter. Geode Capital Management LLC boosted its stake in W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in W. P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock valued at $143,926,000 after purchasing an additional 43,197 shares during the last quarter. Norges Bank bought a new stake in W. P. Carey during the 4th quarter valued at about $139,381,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W. P. Carey by 660.9% in 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 worth $127,969,000 after buying an additional 1,784,131 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

Shares of W. P. Carey stock opened at $62.67 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 company has a fifty day moving average of $60.04 and a 200 day moving average of $58.41. The company has a market capitalization of $13.71 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WPC shares. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank boosted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.75.

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.