Everstar Asset Management LLC Has $387,000 Position in W. P. Carey Inc. (NYSE:WPC)

Everstar Asset Management LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 8.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,096 shares of the real estate investment trust’s stock after acquiring an additional 579 shares during the period. Everstar Asset Management LLC’s holdings in W. P. Carey were worth $387,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of W. P. Carey in the 4th quarter worth $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after buying an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of W. P. Carey during the 4th quarter worth about $31,442,000. FMR LLC increased its stake in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after acquiring an additional 409,593 shares during the last quarter. Finally, Equity Investment Corp increased its stake in shares of W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after acquiring an additional 389,107 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays boosted their price target 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. Wells Fargo & Company raised their price objective 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. Scotiabank boosted their target price 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. Finally, Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.75.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $62.67 on Monday. The company has a fifty day moving average price of $60.04 and a 200 day moving average price of $58.38. The firm has a market cap of $13.71 billion, a PE ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The company also recently disclosed 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 is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. 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.