Mystic Asset Management Inc. Buys Shares of 4,611 W. P. Carey Inc. (NYSE:WPC)

Mystic Asset Management Inc. bought a new stake in W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,611 shares of the real estate investment trust’s stock, valued at approximately $251,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC lifted its stake in W. P. Carey by 4.3% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 35,150 shares of the real estate investment trust’s stock valued at $1,915,000 after acquiring an additional 1,450 shares during the last quarter. Cibc World Markets Corp lifted its stake in W. P. Carey by 4.2% in the fourth quarter. Cibc World Markets Corp now owns 73,544 shares of the real estate investment trust’s stock valued at $4,007,000 after acquiring an additional 2,957 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in W. P. Carey by 77.3% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 4,192 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 1,827 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in W. P. Carey by 9.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,793 shares of the real estate investment trust’s stock valued at $806,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in W. P. Carey by 377.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 212,345 shares of the real estate investment trust’s stock valued at $11,594,000 after acquiring an additional 167,900 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 1.1 %

Shares of WPC stock opened at $61.95 on Wednesday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The firm’s fifty day simple moving average is $58.86 and its 200 day simple moving average is $58.34. The firm has a market capitalization of $13.56 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.75%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

Analysts Set New Price Targets

A number of research firms have recently commented on WPC. Evercore ISI lifted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Barclays lifted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.75.

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.