W. P. Carey Inc. (NYSE:WPC) Stake Reduced by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,656 shares of the real estate investment trust’s stock after selling 2,100 shares during the quarter. Bahl & Gaynor Inc.’s holdings in W. P. Carey were worth $1,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Central Bank & Trust Co. purchased a new stake in W. P. Carey during the fourth quarter valued at about $28,000. FNY Investment Advisers LLC purchased a new stake in W. P. Carey during the fourth quarter valued at about $32,000. Covestor Ltd lifted its stake 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 valued at $43,000 after buying an additional 595 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in W. P. Carey during the third quarter valued at about $45,000. Finally, Provence Wealth Management Group purchased a new stake in shares of W. P. Carey in the third quarter worth approximately $46,000. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WPC shares. Wells Fargo & Company reduced their price target on shares of 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. Barclays started coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Scotiabank reduced their price target on shares of 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. Royal Bank of Canada reduced their price target on shares of 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Trading Down 1.7 %

Shares of WPC stock opened at $55.03 on Friday. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $56.04 and its two-hundred day moving average is $58.79. The company has a market cap of $12.04 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same quarter last year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts predict that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.865 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.29%. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

W. P. Carey Company 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.