C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 5,785 W. P. Carey Inc. (NYSE:WPC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,785 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Other hedge funds have also recently bought and sold shares of the company. Maia Wealth LLC acquired a new stake in W. P. Carey during the 3rd quarter valued at approximately $40,000. Abich Financial Wealth Management LLC grew its stake in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the 4th quarter valued at approximately $37,000. Fortitude Family Office LLC grew its stake in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the subject of a number of recent analyst reports. Barclays lowered their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Scotiabank decreased their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.38.

W. P. Carey Trading Up 1.2 %

Shares of NYSE WPC opened at $61.17 on Friday. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. 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’s 50 day simple moving average is $55.78 and its 200 day simple moving average is $57.64.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.75%. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

W. P. Carey Company Profile

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.