W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 22.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,648 shares of the real estate investment trust’s stock after buying an additional 17,447 shares during the period. Sheets Smith Wealth Management’s holdings in W. P. Carey were worth $5,211,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its position in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at approximately $40,000. Massmutual Trust Co. FSB ADV boosted its position in shares of W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 172 shares during the period. Abich Financial Wealth Management LLC grew its holdings in 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 worth $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 616 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group cut their price objective 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. Barclays reiterated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Stock Performance

Shares of WPC stock opened at $56.86 on Wednesday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.42. The stock’s 50-day moving average is $55.55 and its two-hundred day moving average is $57.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.44 billion, a P/E ratio of 22.39, a PEG ratio of 1.01 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last issued 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the business posted $1.32 EPS. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. Analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.19%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 138.58%.

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.