Millstone Evans Group LLC Invests $37,000 in W. P. Carey Inc. (NYSE:WPC)

Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, Holdings Channel reports. The fund purchased 672 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $37,000. RPg Family Wealth Advisory LLC bought a new position in shares of W. P. Carey during the third quarter valued at approximately $44,000. Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey during the 4th quarter worth approximately $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WPC. Barclays increased their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company lifted their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $61.35 on Tuesday. The company has a market capitalization of $13.43 billion, a PE ratio of 29.36, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a 50-day simple moving average of $59.44 and a two-hundred day simple moving average of $58.37. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.80%. W. P. Carey’s dividend payout ratio is presently 170.33%.

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.