Summit Trail Advisors LLC Invests $201,000 in W. P. Carey Inc. (NYSE:WPC)

Summit Trail Advisors LLC purchased a new stake in W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,617 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after acquiring an additional 103,147 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W. P. Carey by 660.9% in the 3rd 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 valued at $127,969,000 after acquiring an additional 1,784,131 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after acquiring an additional 264,230 shares during the period. Finally, Equity Investment Corp boosted its holdings in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays dropped their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Scotiabank dropped their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.00.

W. P. Carey Trading Up 2.7 %

WPC opened at $57.64 on Thursday. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company has a 50-day simple moving average of $55.33 and a 200 day simple moving average of $57.60.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 138.58%.

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.