IAG Wealth Partners LLC Lowers Position in W. P. Carey Inc. (NYSE:WPC)

IAG Wealth Partners LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,594 shares of the real estate investment trust’s stock after selling 319 shares during the period. IAG Wealth Partners LLC’s holdings in W. P. Carey were worth $168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WPC. Central Bank & Trust Co. purchased a new position in shares of W. P. Carey in the fourth quarter valued at about $28,000. FNY Investment Advisers LLC purchased a new position in shares of W. P. Carey in the fourth quarter valued at about $32,000. Covestor Ltd lifted its position in shares of W. P. Carey by 316.5% in the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 595 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in shares of W. P. Carey in the third quarter valued at about $45,000. Finally, Provence Wealth Management Group purchased a new position in shares of W. P. Carey in the third quarter valued at about $46,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on WPC shares. Royal Bank of Canada lowered their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. StockNews.com assumed coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company reduced their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Finally, Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Trading Down 1.7 %

Shares of NYSE WPC opened at $55.03 on Friday. The business’s 50 day moving average is $55.99 and its two-hundred day moving average is $58.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66. The stock has a market capitalization of $12.04 billion, a P/E ratio of 16.68, a PEG ratio of 0.44 and a beta of 0.86.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.29%. W. P. Carey’s dividend payout ratio is currently 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.