Metis Global Partners LLC Purchases 1,928 Shares of W. P. Carey Inc. (NYSE:WPC)

Metis Global Partners LLC grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 7.4% in the 4th quarter, HoldingsChannel reports. The firm owned 28,059 shares of the real estate investment trust’s stock after acquiring an additional 1,928 shares during the quarter. Metis Global Partners LLC’s holdings in W. P. Carey were worth $1,529,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC increased its holdings in shares of W. P. Carey by 91.7% in 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 during the period. Equity Investment Corp increased its holdings in shares of W. P. Carey by 0.7% in 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 buying an additional 9,610 shares during the period. Stoneridge Investment Partners LLC purchased a new position in shares of W. P. Carey in the third quarter worth about $1,692,000. Stifel Financial Corp increased its holdings in shares of W. P. Carey by 7.0% in 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 during the period. Finally, FMR LLC increased its holdings in shares of W. P. Carey by 103.3% in 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 during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.7 %

WPC stock opened at $64.67 on Tuesday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.87. The business’s 50 day moving average price is $56.77 and its two-hundred day moving average price is $57.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

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

Wall Street Analysts Forecast Growth

WPC has been the topic of several analyst reports. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. UBS Group reduced their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Company 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.