New Age Alpha Advisors LLC Takes Position in W. P. Carey Inc. (NYSE:WPC)

New Age Alpha Advisors LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 61,646 shares of the real estate investment trust’s stock, valued at approximately $3,358,000.

A number of other large investors have also added to or reduced their stakes in the stock. National Pension Service bought a new position in shares of W. P. Carey during the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the fourth quarter worth about $37,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $58,000. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays boosted their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Finally, Scotiabank raised their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $62.67 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The stock’s 50-day simple moving average is $60.04 and its 200-day simple moving average is $58.41. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.68%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 170.33%.

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.