Townsquare Capital LLC Has $731,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Townsquare Capital LLC lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 20.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,422 shares of the real estate investment trust’s stock after buying an additional 2,323 shares during the period. Townsquare Capital LLC’s holdings in W. P. Carey were worth $731,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WPC. DF Dent & Co. Inc. lifted its holdings in W. P. Carey by 3.5% during the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 183 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after buying an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after acquiring an additional 259 shares during the period. Empowered Funds LLC grew its stake in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 271 shares in the last quarter. Finally, Cooper Financial Group increased its holdings in W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WPC shares. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $62.18 on Friday. The firm has a market capitalization of $13.62 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The business’s 50-day moving average price is $61.40 and its 200-day moving average price is $58.11.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.89 per share. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.73%. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

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.