Envestnet Portfolio Solutions Inc. Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 9.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 14,793 shares of the real estate investment trust’s stock after purchasing an additional 1,305 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in W. P. Carey were worth $806,000 as of its most recent filing with the SEC.

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

W. P. Carey Stock Up 0.0 %

Shares of NYSE WPC opened at $61.62 on Monday. 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 Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The firm has a 50-day moving average price of $59.29 and a 200 day moving average price of $58.36. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on WPC shares. Royal Bank of Canada raised their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Scotiabank lifted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company 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.