LVW Advisors LLC Grows Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

LVW Advisors LLC raised its position in W. P. Carey Inc. (NYSE:WPC) by 149.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,747 shares of the real estate investment trust’s stock after acquiring an additional 5,842 shares during the quarter. LVW Advisors LLC’s holdings in W. P. Carey were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WPC. First United Bank & Trust purchased a new position in shares of W. P. Carey in the fourth quarter valued at about $27,000. Central Bank & Trust Co. bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $28,000. Riverview Trust Co bought a new stake in shares of W. P. Carey during the 1st quarter valued at about $28,000. FNY Investment Advisers LLC bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.8 %

Shares of NYSE WPC opened at $54.62 on Tuesday. The firm’s 50 day moving average price is $56.66 and its 200-day moving average price is $58.65. The company has a market cap of $11.95 billion, a PE ratio of 20.77, a P/E/G ratio of 1.02 and a beta of 0.93. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 132.32%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research reports. UBS Group initiated coverage on shares of W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 target price on the stock. Barclays assumed coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank boosted their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Company dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.70.

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.