Howe & Rusling Inc. Purchases 1,332 Shares of W. P. Carey Inc. (NYSE:WPC)

Howe & Rusling Inc. lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,218 shares of the real estate investment trust’s stock after purchasing an additional 1,332 shares during the period. Howe & Rusling Inc.’s holdings in W. P. Carey were worth $720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in W. P. Carey by 660.9% during the 3rd 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 acquiring an additional 1,784,131 shares during the period. Raymond James Financial Inc. bought a new stake in W. P. Carey in the fourth quarter worth approximately $31,442,000. FMR LLC lifted its stake in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares during the period. Equity Investment Corp boosted its holdings in shares of W. P. Carey by 26.3% during the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after buying an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of W. P. Carey by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after buying an additional 264,230 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Wells Fargo & Company upped their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Stock Down 0.7 %

Shares of NYSE WPC opened at $62.44 on Friday. The stock has a market capitalization of $13.66 billion, a P/E ratio of 29.87, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The firm’s 50 day simple moving average is $59.90 and its two-hundred day simple moving average is $58.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

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

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.