W. P. Carey Inc. (NYSE:WPC) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC increased its position in W. P. Carey Inc. (NYSE:WPC) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,174 shares of the real estate investment trust’s stock after buying an additional 431 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in W. P. Carey were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Vanguard Group Inc. raised its holdings in shares of W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after purchasing an additional 657,188 shares during the period. Cohen & Steers Inc. raised its holdings in W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares during the period. Daiwa Securities Group Inc. lifted its position in W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after buying an additional 1,124,010 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in W. P. Carey by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock worth $196,902,000 after buying an additional 43,959 shares during the period. Finally, Legal & General Group Plc increased its position in shares of W. P. Carey by 1.3% in the third quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock worth $153,352,000 after acquiring an additional 37,055 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Wells Fargo & Company reduced their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Barclays initiated coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.70.

W. P. Carey Stock Up 0.5 %

Shares of W. P. Carey stock traded up $0.27 on Friday, hitting $55.05. 2,302,715 shares of the company’s stock traded hands, compared to its average volume of 1,437,634. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock has a market cap of $12.05 billion, a P/E ratio of 20.93, a PEG ratio of 1.02 and a beta of 0.91. The firm’s 50-day moving average is $56.69 and its 200 day moving average is $58.77.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

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.