Janiczek Wealth Management LLC Buys 296 Shares of W. P. Carey Inc. (NYSE:WPC)

Janiczek Wealth Management LLC lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 30.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,263 shares of the real estate investment trust’s stock after purchasing an additional 296 shares during the period. Janiczek Wealth Management LLC’s holdings in W. P. Carey were worth $72,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WPC. First United Bank & Trust acquired a new stake in W. P. Carey during the 4th quarter worth $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the fourth quarter worth about $28,000. Riverview Trust Co acquired a new position in W. P. Carey during the first quarter worth $28,000. FNY Investment Advisers LLC bought a new position in W. P. Carey in the fourth quarter valued at approximately $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $32,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

Shares of NYSE WPC traded up $0.02 during trading on Thursday, reaching $55.08. 373,505 shares of the company traded hands, compared to its average volume of 1,323,412. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $56.69 and a 200-day simple moving average of $58.87. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The stock has a market capitalization of $12.05 billion, a PE ratio of 20.94, a P/E/G ratio of 1.03 and a beta of 0.91.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 131.56%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WPC shares. Scotiabank raised their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Royal Bank of Canada dropped their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. UBS Group started coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target for the company. Wells Fargo & Company dropped their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $59.70.

About W. P. Carey

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.