Empowered Funds LLC Buys 271 Shares of W. P. Carey Inc. (NYSE:WPC)

Empowered Funds LLC raised its stake in W. P. Carey Inc. (NYSE:WPC) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,778 shares of the real estate investment trust’s stock after buying an additional 271 shares during the period. Empowered Funds LLC’s holdings in W. P. Carey were worth $206,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. RFG Advisory LLC grew its position in shares of W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,049 shares during the last quarter. Equity Investment Corp grew its position in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $1,692,000. abrdn plc grew its position in shares of W. P. Carey by 9.9% in the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after buying an additional 9,229 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of W. P. Carey by 7.0% in the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after buying an additional 2,075 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of several research analyst reports. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday. Barclays cut their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $67.00 in a research report on Tuesday. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.38.

W. P. Carey Stock Up 0.8 %

Shares of NYSE:WPC opened at $61.68 on Friday. The business’s 50 day simple moving average is $55.87 and its two-hundred day simple moving average is $57.68. The firm has a market cap of $13.50 billion, a P/E ratio of 29.51, a PEG ratio of 1.04 and a beta of 0.97. 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 Inc. has a 52-week low of $52.91 and a 52-week high of $64.26.

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 issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.71%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 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.