Level Four Advisory Services LLC Invests $292,000 in W. P. Carey Inc. (NYSE:WPC)

Level Four Advisory Services LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, Holdings Channel.com reports. The fund bought 4,503 shares of the real estate investment trust’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. First United Bank & Trust acquired a new stake in W. P. Carey in the fourth quarter valued at approximately $27,000. Central Bank & Trust Co. acquired a new stake in W. P. Carey in the 4th quarter valued at $28,000. FNY Investment Advisers LLC acquired a new stake in W. P. Carey in the 4th quarter valued at $32,000. EdgeRock Capital LLC purchased a new stake in W. P. Carey in the 4th quarter worth $32,000. Finally, Covestor Ltd raised its position in W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 595 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC stock opened at $59.17 on Thursday. The firm’s 50-day moving average is $56.45 and its two-hundred day moving average is $59.35. The company has a market capitalization of $12.95 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.12 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 12 month low of $51.36 and a 12 month high of $73.38.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 5.85%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is presently 131.56%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPC. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Scotiabank lifted their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Wells Fargo & Company reduced their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Finally, Royal Bank of Canada dropped their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.18.

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.