Axis Wealth Partners LLC Purchases New Holdings in W. P. Carey Inc. (NYSE:WPC)

Axis Wealth Partners LLC bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,597 shares of the real estate investment trust’s stock, valued at approximately $468,000.

Several other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in W. P. Carey by 660.9% during 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 purchasing an additional 1,784,131 shares during the period. Raymond James Financial Inc. bought a new position in W. P. Carey in the fourth quarter valued at approximately $31,442,000. Victory Capital Management Inc. grew its holdings in W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after acquiring an additional 479,973 shares during the period. FMR LLC raised its position in shares of W. P. Carey by 103.3% during 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 lifted 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 purchasing an additional 389,107 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $64.74 on Friday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $65.45. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.06 and a beta of 0.95. The business’s 50-day moving average price is $57.75 and its 200-day moving average price is $58.20.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 168.42%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. UBS Group decreased 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 report on Thursday, November 14th. Barclays lifted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Finally, Evercore ISI lifted their target price 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 equities research 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’s stock. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average price target of $62.88.

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.