W. P. Carey Inc. (NYSE:WPC) is Arkfeld Wealth Strategies L.L.C.’s 9th Largest Position

Arkfeld Wealth Strategies L.L.C. grew its position in W. P. Carey Inc. (NYSE:WPC) by 59.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,759 shares of the real estate investment trust’s stock after buying an additional 30,491 shares during the period. W. P. Carey accounts for approximately 2.5% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 9th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in W. P. Carey were worth $4,551,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of W. P. Carey by 2.2% during 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. boosted its position in shares of W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares during the period. 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 purchasing an additional 1,124,010 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of W. P. Carey by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock worth $196,902,000 after purchasing an additional 43,959 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of W. P. Carey by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock worth $153,352,000 after purchasing an additional 37,055 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.3 %

NYSE:WPC traded down $0.19 during midday trading on Wednesday, hitting $55.06. 1,372,040 shares of the company were exchanged, compared to its average volume of 1,331,192. The company has a fifty day simple moving average of $56.66 and a 200 day simple moving average of $58.90. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38. 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 company has a market capitalization of $12.05 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid 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 is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WPC. Wells Fargo & Company reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Barclays began coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada reduced their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Scotiabank raised their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $59.70.

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.