W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Austin Private Wealth LLC

Austin Private Wealth LLC lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,821 shares of the real estate investment trust’s stock after buying an additional 814 shares during the period. Austin Private Wealth LLC’s holdings in W. P. Carey were worth $485,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. First United Bank & Trust purchased a new stake in W. P. Carey during the 4th quarter valued at about $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey in the 4th quarter valued at about $28,000. FNY Investment Advisers LLC purchased a new position in W. P. Carey during the fourth quarter valued at approximately $32,000. EdgeRock Capital LLC acquired a new position in W. P. Carey in the fourth quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in W. P. Carey in the 4th quarter worth approximately $36,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WPC. Wells Fargo & Company decreased their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada lowered their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. UBS Group began coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target for the company. Scotiabank increased their price target on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, Barclays assumed coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.70.

W. P. Carey Price Performance

NYSE WPC traded down $0.15 during mid-day trading on Tuesday, hitting $55.76. The stock had a trading volume of 38,921 shares, compared to its average volume of 1,321,755. The firm’s 50 day moving average is $56.62 and its 200 day moving average is $58.95. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.03 and a beta of 0.91. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 6.24%. W. P. Carey’s payout ratio is presently 131.56%.

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.