Cohen Capital Management Inc. Boosts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Cohen Capital Management Inc. lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,788 shares of the real estate investment trust’s stock after buying an additional 253 shares during the period. Cohen Capital Management Inc.’s holdings in W. P. Carey were worth $3,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPC. Daiwa Securities Group Inc. lifted its position in W. P. Carey by 44.7% in 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 purchasing an additional 1,124,010 shares during the last quarter. Norges Bank purchased a new stake in W. P. Carey during the 4th quarter valued at $157,107,000. Russell Investments Group Ltd. grew its holdings in W. P. Carey by 99.7% in the 4th quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock worth $22,810,000 after acquiring an additional 175,347 shares during the last quarter. Principal Securities Inc. bought a new stake in W. P. Carey in the 4th quarter worth $951,000. Finally, M&T Bank Corp increased its position in shares of W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock valued at $2,024,000 after acquiring an additional 825 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 4.5 %

WPC traded up $2.46 during midday trading on Thursday, reaching $57.57. The company’s stock had a trading volume of 2,237,749 shares, compared to its average volume of 1,322,490. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock’s 50-day moving average is $56.61 and its 200-day moving average is $58.22. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 6.04%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s payout ratio is 132.32%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WPC. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank lifted their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. UBS Group started coverage on W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 target price on the stock. Royal Bank of Canada dropped their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.70.

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.