PFG Investments LLC Purchases 4,346 Shares of W. P. Carey Inc. (NYSE:WPC)

PFG Investments LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 53.9% during the 4th quarter, HoldingsChannel reports. The firm owned 12,412 shares of the real estate investment trust’s stock after buying an additional 4,346 shares during the period. PFG Investments LLC’s holdings in W. P. Carey were worth $676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WPC. Quarry LP raised its holdings in shares of 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 acquiring an additional 357 shares in the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey in the third quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV raised its stake in 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 valued at $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in 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 valued at $42,000 after purchasing an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $54.79 on Thursday. The company has a market capitalization of $11.99 billion, a P/E ratio of 21.57, a PEG ratio of 1.00 and a beta of 0.97. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $55.49 and a two-hundred day moving average price of $57.82.

W. P. Carey (NYSE:WPC) last announced its quarterly 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 firm 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 company earned $1.32 EPS. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts expect that W. P. Carey Inc. will post 4.49 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.43%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WPC. Barclays reaffirmed an “underweight” rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Scotiabank cut their target price on 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.43.

W. P. Carey 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.