Burney Co. Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Burney Co. boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,604 shares of the real estate investment trust’s stock after purchasing an additional 360 shares during the period. Burney Co.’s holdings in W. P. Carey were worth $465,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WPC. Fairfield Bush & CO. acquired a new stake in shares of W. P. Carey during the first quarter worth about $26,000. Acadian Asset Management LLC purchased a new stake in W. P. Carey during the 1st quarter valued at approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in W. P. Carey during the 4th quarter worth approximately $32,000. Quarry LP grew its stake in shares of W. P. Carey by 438.5% in the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 342 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of W. P. Carey in the third quarter valued at approximately $29,000. 62.62% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Down 6.5 %

Shares of W. P. Carey stock opened at $57.38 on Friday. The company has a 50-day moving average of $64.23 and a two-hundred day moving average of $61.40. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $85.36. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.85. The stock has a market cap of $12.55 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 7.70 and a beta of 0.89.

W. P. Carey Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 6.00%. The ex-dividend date was Thursday, December 28th. W. P. Carey’s payout ratio is currently 94.51%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com started coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Raymond James lifted their target price on shares of W. P. Carey from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, January 8th. Royal Bank of Canada increased their price target on shares of W. P. Carey from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, January 11th. Finally, JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $66.60.

Get Our Latest Stock Analysis on W. P. Carey

W. P. Carey Company Profile

(Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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