W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,076 shares of the real estate investment trust’s stock after purchasing an additional 10,290 shares during the quarter. Van ECK Associates Corp’s holdings in W. P. Carey were worth $5,140,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First United Bank & Trust acquired a new position in shares of W. P. Carey in the fourth quarter worth $27,000. Central Bank & Trust Co. acquired a new position in W. P. Carey in the fourth quarter valued at $28,000. Riverview Trust Co acquired a new position in W. P. Carey in the first quarter valued at $28,000. FNY Investment Advisers LLC acquired a new position in W. P. Carey in the fourth quarter valued at $32,000. Finally, YHB Investment Advisors Inc. acquired a new position in W. P. Carey in the first quarter valued at $30,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on WPC. 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 note on Thursday, May 16th. Barclays began coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Wells Fargo & Company lowered their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Finally, UBS Group began coverage on W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Stock Up 0.1 %

WPC traded up $0.06 on Friday, reaching $54.95. The company’s stock had a trading volume of 529,921 shares, compared to its average volume of 1,317,869. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. 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 business’s 50 day moving average is $56.58 and its 200 day moving average is $58.53.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.87 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.33%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 132.32%.

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.