Teamwork Financial Advisors LLC Acquires 1,438 Shares of W. P. Carey Inc. (NYSE:WPC)

Teamwork Financial Advisors LLC increased its stake in W. P. Carey Inc. (NYSE:WPC) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,805 shares of the real estate investment trust’s stock after purchasing an additional 1,438 shares during the period. Teamwork Financial Advisors LLC’s holdings in W. P. Carey were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First United Bank & Trust bought a new position in shares of W. P. Carey during the 4th quarter valued at about $27,000. Central Bank & Trust Co. bought a new position in 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 during the first quarter worth approximately $28,000. FNY Investment Advisers LLC bought a new stake in shares of W. P. Carey in the 4th quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the 4th quarter valued at $32,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

W. P. Carey Price Performance

WPC stock opened at $54.90 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. The firm has a 50-day moving average of $56.58 and a 200 day moving average of $58.53. The company has a market cap of $12.01 billion, a P/E ratio of 20.87, a PEG ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 132.32%.

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.