W. P. Carey Inc. (NYSE:WPC) Shares Bought by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. raised its stake in W. P. Carey Inc. (NYSE:WPC) by 34.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,105 shares of the real estate investment trust’s stock after purchasing an additional 1,549 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in W. P. Carey were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Mystic Asset Management Inc. acquired a new position in shares of W. P. Carey in the 4th quarter valued at $251,000. Horizon Kinetics Asset Management LLC boosted its holdings in shares of W. P. Carey by 4.3% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 35,150 shares of the real estate investment trust’s stock valued at $1,915,000 after purchasing an additional 1,450 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of W. P. Carey by 4.2% in the 4th quarter. Cibc World Markets Corp now owns 73,544 shares of the real estate investment trust’s stock valued at $4,007,000 after purchasing an additional 2,957 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of W. P. Carey by 77.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,192 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 1,827 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of W. P. Carey by 9.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 14,793 shares of the real estate investment trust’s stock valued at $806,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of several recent research reports. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Barclays lifted their target price 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. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Performance

W. P. Carey stock opened at $62.59 on Tuesday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s fifty day moving average price is $58.72 and its 200 day moving average price is $58.32.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.89 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.69%. W. P. Carey’s payout ratio is 170.33%.

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.