Metis Global Partners LLC Grows Stock Position in W. P. Carey Inc. (NYSE:WPC)

Metis Global Partners LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,059 shares of the real estate investment trust’s stock after buying an additional 1,928 shares during the quarter. Metis Global Partners LLC’s holdings in W. P. Carey were worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WPC. Harbour Investments Inc. grew its position in shares of W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares in the last quarter. Demars Financial Group LLC grew its position in shares of W. P. Carey by 2.2% in the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock valued at $616,000 after purchasing an additional 216 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in shares of W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares in the last quarter. Empowered Funds LLC grew its position in shares of W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 271 shares in the last quarter. Finally, Cooper Financial Group grew its position in shares of W. P. Carey by 2.4% in the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 276 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

NYSE:WPC opened at $64.67 on Tuesday. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.87. The stock has a fifty day moving average of $56.77 and a 200 day moving average of $57.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.44%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WPC. Royal Bank of Canada lifted their price target 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. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. UBS Group dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.38.

W. P. Carey 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.