35,906 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by FORA Capital LLC

FORA Capital LLC purchased a new stake in W. P. Carey Inc. (NYSE:WPC) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 35,906 shares of the real estate investment trust’s stock, valued at approximately $2,027,000.

Several other institutional investors also recently made changes to their positions in WPC. First United Bank & Trust purchased a new stake in W. P. Carey during the fourth quarter valued at about $27,000. Central Bank & Trust Co. acquired a new stake in W. P. Carey during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new position in W. P. Carey during the first quarter valued at approximately $28,000. YHB Investment Advisors Inc. purchased a new stake in W. P. Carey during the first quarter worth approximately $30,000. Finally, FNY Investment Advisers LLC purchased a new position 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Scotiabank lifted their target price 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. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, Royal Bank of Canada reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Stock Performance

WPC traded down $0.48 during trading hours on Tuesday, hitting $54.74. The company’s stock had a trading volume of 261,808 shares, compared to its average volume of 1,313,492. The company has a 50-day simple moving average of $56.57 and a 200 day simple moving average of $58.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $11.98 billion, a PE ratio of 21.00, a PEG ratio of 1.02 and a beta of 0.93. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.87 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Friday, June 28th. W. P. Carey’s payout ratio is currently 132.32%.

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.