Client 1ST Advisory Group LLC Takes Position in W. P. Carey Inc. (NYSE:WPC)

Client 1ST Advisory Group LLC acquired a new stake in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 12,330 shares of the real estate investment trust’s stock, valued at approximately $672,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. American Century Companies Inc. grew its holdings in shares of W. P. Carey by 8.1% during the second quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock worth $3,512,000 after buying an additional 4,766 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of W. P. Carey by 8.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 100,505 shares of the real estate investment trust’s stock valued at $5,533,000 after purchasing an additional 8,048 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of W. P. Carey by 23.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,911 shares of the real estate investment trust’s stock worth $1,647,000 after purchasing an additional 5,755 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in W. P. Carey by 8.2% during the second quarter. Canada Pension Plan Investment Board now owns 583,851 shares of the real estate investment trust’s stock worth $32,141,000 after purchasing an additional 44,322 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in W. P. Carey by 20.0% in the second quarter. AE Wealth Management LLC now owns 9,778 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 1,631 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent research reports. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday. Barclays reissued an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $62.43.

W. P. Carey Stock Up 0.5 %

WPC stock opened at $55.81 on Monday. The business’s 50 day simple moving average is $55.51 and its 200 day simple moving average is $57.85. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.42. The firm has a market capitalization of $12.21 billion, a PE ratio of 21.97, a PEG ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

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). The company had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’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 earnings per share. As a group, research analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.31%. 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. 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.