Kovack Advisors Inc. Sells 497 Shares of W. P. Carey Inc. (NYSE:WPC)

Kovack Advisors Inc. decreased its holdings in W. P. Carey Inc. (NYSE:WPC) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,919 shares of the real estate investment trust’s stock after selling 497 shares during the period. Kovack Advisors Inc.’s holdings in W. P. Carey were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in W. P. Carey by 4.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,831 shares of the real estate investment trust’s stock worth $668,000 after purchasing an additional 554 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in W. P. Carey by 9.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,159 shares of the real estate investment trust’s stock valued at $799,000 after acquiring an additional 1,275 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in W. P. Carey by 6.1% during the first quarter. Oppenheimer & Co. Inc. now owns 10,347 shares of the real estate investment trust’s stock valued at $584,000 after acquiring an additional 592 shares during the last quarter. US Bancorp DE boosted its position in W. P. Carey by 0.7% in the first quarter. US Bancorp DE now owns 35,203 shares of the real estate investment trust’s stock worth $1,987,000 after purchasing an additional 244 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of W. P. Carey during the 1st quarter valued at about $551,000. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WPC. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Down 1.0 %

WPC stock opened at $54.84 on Friday. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The business has a 50 day simple moving average of $59.63 and a two-hundred day simple moving average of $58.19.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the business posted $1.32 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. Research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.