Diversify Advisory Services LLC Acquires New Shares in W. P. Carey Inc. (NYSE:WPC)

Diversify Advisory Services LLC bought a new position in W. P. Carey Inc. (NYSE:WPCFree Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,933 shares of the real estate investment trust’s stock, valued at approximately $277,000.

Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares during the last quarter. Norges Bank bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $157,107,000. Russell Investments Group Ltd. increased its stake in shares of W. P. Carey by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock valued at $22,810,000 after buying an additional 175,347 shares during the period. Principal Securities Inc. bought a new position in shares of W. P. Carey during the fourth quarter worth about $951,000. Finally, M&T Bank Corp lifted its stake in shares of W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after acquiring an additional 825 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Wells Fargo & Company dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Barclays started coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, UBS Group began coverage on W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average price target of $59.70.

View Our Latest Stock Analysis on W. P. Carey

W. P. Carey Trading Up 0.3 %

Shares of W. P. Carey stock opened at $55.04 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38. The stock has a 50 day moving average price of $56.58 and a two-hundred day moving average price of $58.38. The stock has a market capitalization of $12.04 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 132.32%.

W. P. Carey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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