Cohen Capital Management Inc. Purchases 13,180 Shares of W. P. Carey Inc. (NYSE:WPC)

Cohen Capital Management Inc. raised its position in W. P. Carey Inc. (NYSE:WPC) by 23.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,239 shares of the real estate investment trust’s stock after purchasing an additional 13,180 shares during the period. Cohen Capital Management Inc.’s holdings in W. P. Carey were worth $3,772,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the fourth quarter worth $37,000. Maia Wealth LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth $40,000. Abich Financial Wealth Management LLC boosted its holdings in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares during the last quarter. Fortitude Family Office LLC grew its position in W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in W. P. Carey during the third quarter worth about $44,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WPC shares. Scotiabank dropped their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Barclays dropped their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Performance

Shares of WPC opened at $61.68 on Friday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26. The stock’s 50-day simple moving average is $55.87 and its 200 day simple moving average is $57.69. 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 stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.71%. W. P. Carey’s dividend payout ratio is currently 168.42%.

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.