Mystic Asset Management Inc. Buys Shares of 4,611 W. P. Carey Inc. (NYSE:WPC)

Mystic Asset Management Inc. bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,611 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Several other large investors have also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares during the period. Raymond James Financial Inc. acquired a new position in W. P. Carey during the 4th quarter valued at about $31,442,000. FMR LLC increased its stake in W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares during the period. Equity Investment Corp grew its stake 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 worth $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC stock opened at $61.95 on Wednesday. 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 stock has a market cap of $13.56 billion, a P/E ratio of 29.64, a P/E/G ratio of 1.06 and a beta of 0.95. The firm has a 50 day simple moving average of $58.86 and a 200 day simple moving average of $58.34. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank lifted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Barclays raised their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Finally, JMP Securities reiterated 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 given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.75.

About W. P. Carey

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.