Raymond James Financial Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Raymond James Financial Inc. purchased a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 577,138 shares of the real estate investment trust’s stock, valued at approximately $31,442,000. Raymond James Financial Inc. owned 0.26% of W. P. Carey at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WPC. RFG Advisory LLC increased its stake in W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 3,049 shares in the last quarter. Equity Investment Corp increased its position in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares in the last quarter. Stifel Financial Corp increased its position in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares in the last quarter. FMR LLC increased its position in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in W. P. Carey during the third quarter worth $1,267,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Down 0.5 %

Shares of W. P. Carey stock opened at $61.60 on Friday. The firm has a market cap of $13.48 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.06 and a beta of 0.95. The business has a 50-day moving average price of $58.27 and a 200 day moving average price of $58.28. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.78%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 168.42%.

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.