W. P. Carey Inc. (NYSE:WPC) Shares Purchased by L.M. Kohn & Company

L.M. Kohn & Company increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,361 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the quarter. L.M. Kohn & Company’s holdings in W. P. Carey were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. Daiwa Securities Group Inc. boosted its position in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after acquiring an additional 1,124,010 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of W. P. Carey by 99.7% during 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 in the last quarter. Principal Securities Inc. acquired a new position in shares of W. P. Carey during the 4th quarter worth about $951,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of W. P. Carey during the 3rd quarter worth about $613,000. Finally, M&T Bank Corp boosted its position in shares of W. P. Carey by 2.7% during the 4th quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after acquiring an additional 825 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WPC. Scotiabank upped 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. Barclays began coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Wells Fargo & Company reduced their price objective on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Royal Bank of Canada cut their target price 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, Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average target price of $63.18.

W. P. Carey Price Performance

NYSE:WPC traded up $0.15 during trading hours on Tuesday, reaching $60.26. 218,878 shares of the company traded hands, compared to its average volume of 1,305,978. The firm’s 50-day moving average is $56.34 and its 200-day moving average is $59.31. The stock has a market cap of $13.19 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $73.38.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is 131.56%.

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.