TIAA Trust National Association Takes $261,000 Position in W. P. Carey Inc. (NYSE:WPC)

TIAA Trust National Association acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,791 shares of the real estate investment trust’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in W. P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC raised its position in shares of W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares during the period. Empowered Funds LLC lifted its stake in shares of W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 271 shares in the last quarter. Cooper Financial Group lifted its stake in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 276 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in W. P. Carey by 3.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after buying an additional 289 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WPC. Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Wells Fargo & Company upped their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Barclays increased their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Trading Up 0.4 %

Shares of WPC opened at $62.67 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week 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. The company’s fifty day moving average is $60.04 and its 200 day moving average is $58.44. The stock has a market capitalization of $13.71 billion, a PE ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio is currently 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.