Fiduciary Alliance LLC Purchases New Stake in W. P. Carey Inc. (NYSE:WPC)

Fiduciary Alliance LLC acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 26,034 shares of the real estate investment trust’s stock, valued at approximately $1,418,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP grew its stake in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Maia Wealth LLC acquired a new position in shares of W. P. Carey in the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV grew its position in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 616 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WPC shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays reaffirmed an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.57.

W. P. Carey Stock Down 0.6 %

WPC opened at $53.57 on Tuesday. 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 12 month low of $52.91 and a 12 month high of $67.17. The stock’s 50 day moving average price is $55.62 and its 200 day moving average price is $57.86. The stock has a market cap of $11.72 billion, a P/E ratio of 21.09, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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). The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. As a group, research analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.57%. W. P. Carey’s payout ratio is presently 138.58%.

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.