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

Level Four Advisory Services LLC bought a new position in W. P. Carey Inc. (NYSE:WPCFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,503 shares of the real estate investment trust’s stock, valued at approximately $292,000.

A number of other hedge funds have also recently made changes to their positions in WPC. Daiwa Securities Group Inc. raised its stake in shares of W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Principal Financial Group Inc. increased its position in W. P. Carey by 4,716.5% during the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after purchasing an additional 785,766 shares during the period. International Assets Investment Management LLC raised its holdings in W. P. Carey by 6,411.6% during the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock worth $26,579,000 after purchasing an additional 403,803 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 14.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock worth $170,032,000 after purchasing an additional 338,194 shares during the period. Finally, Retirement Systems of Alabama bought a new stake in shares of W. P. Carey in the 4th quarter valued at $17,750,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Scotiabank upped their target price on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $63.18.

Get Our Latest Stock Analysis on WPC

W. P. Carey Stock Down 1.4 %

Shares of NYSE WPC opened at $59.17 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average price of $56.45 and a 200-day moving average price of $59.35. The stock has a market capitalization of $12.95 billion, a P/E ratio of 22.50, a P/E/G ratio of 1.12 and a beta of 0.86. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 5.85%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 131.56%.

W. P. Carey Company 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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