Naviter Wealth LLC Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Naviter Wealth LLC increased its stake in W. P. Carey Inc. (NYSE:WPC) by 17.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,116 shares of the real estate investment trust’s stock after acquiring an additional 2,691 shares during the quarter. Naviter Wealth LLC’s holdings in W. P. Carey were worth $1,038,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the fourth quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in shares of W. P. Carey in the first quarter valued at approximately $28,000. FNY Investment Advisers LLC acquired a new stake in shares of W. P. Carey in the fourth quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth approximately $32,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.04 on Wednesday. W. P. Carey Inc. has a one year low of $51.36 and a one year 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. The firm’s 50 day moving average price is $56.63 and its 200-day moving average price is $58.58. The firm has a market cap of $12.04 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WPC shares. Wells Fargo & Company lowered their target price 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. Scotiabank increased their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. UBS Group initiated coverage on W. P. Carey in a report on Friday, May 31st. They set a “neutral” rating and a $57.00 target price on the stock. Royal Bank of Canada cut their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus target price 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.