HighTower Advisors LLC Grows Holdings in W. P. Carey Inc. (NYSE:WPC)

HighTower Advisors LLC raised its position in W. P. Carey Inc. (NYSE:WPC) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,381 shares of the real estate investment trust’s stock after acquiring an additional 193 shares during the quarter. HighTower Advisors LLC’s holdings in W. P. Carey were worth $2,418,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. National Pension Service acquired a new position in W. P. Carey in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey in the 4th quarter valued at $37,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the 3rd quarter valued at $44,000. Plato Investment Management Ltd acquired a new position in W. P. Carey in the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC acquired a new position in W. P. Carey in the 4th quarter valued at $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.0 %

Shares of W. P. Carey stock opened at $61.62 on Friday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market cap of $13.48 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a 50-day moving average of $59.29 and a two-hundred day moving average of $58.38.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent research reports. Scotiabank boosted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Evercore ISI upped their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Wells Fargo & Company increased their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.75.

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.