Allworth Financial LP Boosts Position in W. P. Carey Inc. (NYSE:WPC)

Allworth Financial LP raised its position in W. P. Carey Inc. (NYSE:WPC) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 136,470 shares of the real estate investment trust’s stock after acquiring an additional 643 shares during the quarter. Allworth Financial LP’s holdings in W. P. Carey were worth $7,528,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WPC. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the 4th quarter valued at about $37,000. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at approximately $40,000. Abich Financial Wealth Management LLC increased its stake in shares of 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. Fortitude Family Office LLC raised its position in shares of 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 during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WPC shares. UBS Group cut 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. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday. Barclays lowered their target price on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, Scotiabank reduced their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.00.

W. P. Carey Stock Performance

NYSE:WPC opened at $58.72 on Monday. The company has a market cap of $12.85 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.02 and a beta of 0.97. The firm’s 50 day moving average is $55.44 and its two-hundred day moving average is $57.57. 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.99%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

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.