Stevens Capital Management LP Takes $601,000 Position in W. P. Carey Inc. (NYSE:WPC)

Stevens Capital Management LP bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, HoldingsChannel.com reports. The firm bought 11,036 shares of the real estate investment trust’s stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. RFG Advisory LLC lifted its position in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 3,049 shares in the last quarter. Stifel Financial Corp lifted its position in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares in the last quarter. FMR LLC lifted its position in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares in the last quarter. Erste Asset Management GmbH purchased a new position in W. P. Carey during the third quarter worth approximately $1,267,000. Finally, Signet Financial Management LLC purchased a new position in W. P. Carey during the fourth quarter worth approximately $1,942,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WPC. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Trading Up 0.0 %

Shares of W. P. Carey stock opened at $61.62 on Monday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The firm has a market cap of $13.48 billion, a PE ratio of 29.48, a P/E/G ratio of 1.06 and a beta of 0.95. The business’s fifty day moving average is $59.29 and its two-hundred day moving average is $58.36. 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 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 dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 170.33%.

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.