Seneca House Advisors Sells 2,410 Shares of W. P. Carey Inc. (NYSE:WPC)

Seneca House Advisors trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 110,719 shares of the real estate investment trust’s stock after selling 2,410 shares during the quarter. W. P. Carey accounts for approximately 2.4% of Seneca House Advisors’ holdings, making the stock its 16th biggest holding. Seneca House Advisors’ holdings in W. P. Carey were worth $6,032,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WPC. Quarry LP raised its position 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 worth $31,000 after acquiring an additional 357 shares in the last quarter. Maia Wealth LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $40,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 valued at $41,000 after buying an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC grew its position 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 worth $42,000 after buying an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake 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 worth $42,000 after acquiring an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WPC shares. Scotiabank cut their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays restated an “underweight” rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group decreased 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 report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Price Performance

NYSE:WPC opened at $54.83 on Friday. The firm’s fifty day moving average is $55.54 and its two-hundred day moving average is $57.82. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.03 and a beta of 0.97. 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 one year low of $52.91 and a one year high of $65.76.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. Research analysts expect that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 6.42%. 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. W. P. Carey’s payout ratio is 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.