Capital Investment Advisory Services LLC Trims Stock Position in W. P. Carey Inc. (NYSE:WPC)

Capital Investment Advisory Services LLC lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,358 shares of the real estate investment trust’s stock after selling 323 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in W. P. Carey were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in W. P. Carey by 44.7% in 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 acquiring an additional 1,124,010 shares in the last quarter. Demars Financial Group LLC increased its holdings in W. P. Carey by 14.0% in the 3rd quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock worth $4,122,000 after acquiring an additional 9,334 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in W. P. Carey in the 3rd quarter worth approximately $613,000. Arizona State Retirement System boosted its stake in W. P. Carey by 0.8% in the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock worth $3,811,000 after purchasing an additional 439 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in W. P. Carey by 5.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after purchasing an additional 10,562 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC stock opened at $56.30 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average price of $56.05 and a 200 day moving average price of $58.80. The company has a market capitalization of $12.32 billion, a P/E ratio of 17.06, a PEG ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.865 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s payout ratio is presently 104.85%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Royal Bank of Canada lowered their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Wells Fargo & Company lowered their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Finally, Scotiabank lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Profile

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.