Transcendent Capital Group LLC Increases Holdings in W. P. Carey Inc. (NYSE:WPC)

Transcendent Capital Group LLC raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 726.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,850 shares of the real estate investment trust’s stock after purchasing an additional 4,263 shares during the period. Transcendent Capital Group LLC’s holdings in W. P. Carey were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter valued at about $37,000. Maia Wealth LLC bought a new position in W. P. Carey in the third quarter worth approximately $40,000. Abich Financial Wealth Management LLC lifted its stake in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares during the last quarter. Fortitude Family Office LLC lifted its position in W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in W. P. Carey during the 3rd quarter worth $44,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WPC shares. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank decreased their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. UBS Group lowered their target price 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 raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Performance

NYSE:WPC opened at $62.79 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.74 billion, a P/E ratio of 30.04, a P/E/G ratio of 1.06 and a beta of 0.97. The firm’s 50 day moving average is $55.99 and its two-hundred day moving average is $57.74. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.61%. W. P. Carey’s payout ratio is 168.42%.

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.