Farther Finance Advisors LLC Boosts Stake in W. P. Carey Inc. (NYSE:WPC)

Farther Finance Advisors LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 71.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,605 shares of the real estate investment trust’s stock after purchasing an additional 1,085 shares during the period. Farther Finance Advisors LLC’s holdings in W. P. Carey were worth $142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after buying an additional 193 shares during the period. Capital Investment Advisory Services LLC raised its holdings in shares of W. P. Carey by 3.1% in the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 259 shares during the period. Empowered Funds LLC raised its holdings in shares of W. P. Carey by 7.7% in the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 271 shares during the period. Cooper Financial Group raised its holdings in shares of W. P. Carey by 2.4% in the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 276 shares during the period. Finally, Impact Partnership Wealth LLC raised its holdings in shares of W. P. Carey by 3.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WPC shares. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Scotiabank upped their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Royal Bank of Canada upped their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Evercore ISI upped their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Trading Down 0.3 %

NYSE:WPC opened at $61.52 on Friday. The stock has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $58.38. The stock has a market cap of $13.46 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey Increases Dividend

The company 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 $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.79%. W. P. Carey’s dividend payout ratio is 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.