Proficio Capital Partners LLC Purchases New Shares in W. P. Carey Inc. (NYSE:WPC)

Proficio Capital Partners LLC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,205 shares of the real estate investment trust’s stock, valued at approximately $1,428,000.

Several other hedge funds also recently made changes to their positions in WPC. Geode Capital Management LLC raised its stake in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after buying an additional 127,477 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after purchasing an additional 43,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Equity Investment Corp raised its stake in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after purchasing an additional 264,230 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of WPC opened at $61.52 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The firm has a market capitalization of $13.46 billion, a P/E ratio of 29.44, a PEG ratio of 1.06 and a beta of 0.95. The business has a fifty day moving average of $59.13 and a 200 day moving average of $58.38.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.79%. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 170.33%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WPC. Scotiabank boosted their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

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.