W. P. Carey Inc. (NYSE:WPC) Stake Lessened by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 29.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,070 shares of the real estate investment trust’s stock after selling 2,559 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in W. P. Carey were worth $331,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group cut their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Barclays reaffirmed an “underweight” rating and set a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company reissued 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 note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.43.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $54.83 on Friday. The business’s 50-day simple moving average is $55.54 and its 200-day simple moving average is $57.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $65.76. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.03 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS 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 analyst estimates of $377.43 million. During the same quarter last year, the business earned $1.32 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company 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 is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.42%. W. P. Carey’s payout ratio is currently 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.