W. P. Carey Inc. (NYSE:WPC) Holdings Raised by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC grew its position in W. P. Carey Inc. (NYSE:WPC) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,512 shares of the real estate investment trust’s stock after purchasing an additional 467 shares during the period. Sonora Investment Management Group LLC owned about 0.07% of W. P. Carey worth $8,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP grew its position in W. P. Carey by 175.9% in the second 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 acquired a new stake in shares of W. P. Carey in the 3rd quarter valued at $40,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 worth $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased 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 worth $42,000 after buying an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of W. P. Carey by 962.5% in the third 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. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.62 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26. The company’s fifty day simple moving average is $55.46 and its 200-day simple moving average is $57.80. The firm has a market cap of $12.17 billion, a PE ratio of 21.90, a P/E/G ratio of 0.99 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. Equities research analysts expect that W. P. Carey Inc. will post 4.49 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is currently 138.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WPC shares. Scotiabank cut their price objective 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. UBS Group dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. 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. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. 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 MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus target price 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.