W. P. Carey Inc. (NYSE:WPC) Position Boosted by Transcendent Capital Group LLC

Transcendent Capital Group LLC grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 726.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,850 shares of the real estate investment trust’s stock after acquiring an additional 4,263 shares during the period. Transcendent Capital Group LLC’s holdings in W. P. Carey were worth $264,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WPC. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey in the fourth quarter valued at $37,000. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $40,000. Abich Financial Wealth Management LLC raised its stake in 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 valued at $42,000 after purchasing an additional 641 shares during the last quarter. Fortitude Family Office LLC grew its holdings 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 in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey in the third quarter valued at about $44,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 1.9 %

NYSE WPC opened at $62.79 on Tuesday. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.26. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.06 and a beta of 0.97. The business has a 50 day moving average price of $55.99 and a 200-day moving average price of $57.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.61%. 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 168.42%.

Analysts Set New Price Targets

A number of research firms recently commented on WPC. Barclays decreased their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Scotiabank dropped their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. UBS Group reduced their price objective on shares of 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, BMO Capital Markets upgraded shares of 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 report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $62.38.

About W. P. Carey

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.