18,922 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by Sabal Trust CO

Sabal Trust CO acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 18,922 shares of the real estate investment trust’s stock, valued at approximately $1,031,000.

Several other large investors have also recently added to or reduced their stakes in WPC. National Pension Service bought a new stake in W. P. Carey in the 4th quarter valued at about $25,000. Illinois Municipal Retirement Fund boosted its position in shares of W. P. Carey by 12.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 215,332 shares of the real estate investment trust’s stock worth $11,731,000 after buying an additional 24,606 shares during the period. Amalgamated Bank increased its position in W. P. Carey by 0.3% in the 4th quarter. Amalgamated Bank now owns 104,538 shares of the real estate investment trust’s stock valued at $5,695,000 after acquiring an additional 337 shares during the period. Transcendent Capital Group LLC raised its stake in W. P. Carey by 726.2% during the 4th quarter. Transcendent Capital Group LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 4,263 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its stake in shares of W. P. Carey by 2.9% in the fourth quarter. Wealthspire Advisors LLC now owns 11,917 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 339 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Trading Up 2.5 %

Shares of WPC opened at $64.31 on Wednesday. The business’s 50-day moving average price is $56.15 and its 200 day moving average price is $57.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $14.07 billion, a P/E ratio of 30.77, 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 $64.63.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.47%. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WPC shares. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Scotiabank decreased their price objective on shares of 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. Barclays dropped their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.38.

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.