RFG Bristol Wealth Advisors LLC Purchases Shares of 5,067 W. P. Carey Inc. (NYSE:WPC)

RFG Bristol Wealth Advisors LLC acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,067 shares of the real estate investment trust’s stock, valued at approximately $276,000.

A number of other hedge funds have also modified their holdings of WPC. Norges Bank acquired a new position in shares of W. P. Carey in the 4th quarter valued at $139,381,000. Raymond James Financial Inc. purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $31,442,000. FMR LLC raised its holdings in shares of W. P. Carey by 103.3% during the third 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 period. Equity Investment Corp lifted its position 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after purchasing an additional 264,230 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Down 0.6 %

Shares of WPC stock opened at $62.68 on Thursday. The stock’s 50 day simple moving average is $60.46 and its 200 day simple moving average is $58.42. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. 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 $13.72 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.06 and a beta of 0.95.

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 paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s payout ratio is presently 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent analyst reports. Wells Fargo & Company boosted 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 research note on Monday, March 10th. Scotiabank upped their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. 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 stock. Based on data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $63.75.

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.