W. P. Carey Inc. (NYSE:WPC) Stock Holdings Lifted by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 3.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 18,530 shares of the real estate investment trust’s stock after buying an additional 673 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in W. P. Carey were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First United Bank & Trust purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $27,000. Central Bank & Trust Co. purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of W. P. Carey in the first quarter worth approximately $28,000. FNY Investment Advisers LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $32,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded down $0.13 on Thursday, reaching $54.89. The stock had a trading volume of 587,453 shares, compared to its average volume of 1,354,819. The business’s 50-day moving average price is $56.60 and its two-hundred day moving average price is $58.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38. The stock has a market cap of $12.01 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.34%. This is a boost 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 presently 132.32%.

Analyst Ratings Changes

A number of brokerages recently commented on WPC. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Wells Fargo & Company lowered 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. UBS Group began coverage on shares of W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective on the stock. Finally, Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average 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.