W. P. Carey Inc. (NYSE:WPC) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,026 shares of the real estate investment trust’s stock after selling 902 shares during the quarter. Perigon Wealth Management LLC’s holdings in W. P. Carey were worth $723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased 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 acquiring an additional 172 shares during the last quarter. Harbour Investments Inc. increased its stake in W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares during the last quarter. Creative Planning raised its holdings in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after purchasing an additional 207 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of W. P. Carey by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 212 shares during the last quarter. Finally, Demars Financial Group LLC boosted its holdings in shares of W. P. Carey by 2.2% in the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 216 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays reissued an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Scotiabank reduced their price objective 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Trading Up 0.5 %

NYSE:WPC opened at $55.96 on Friday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $55.44 and its 200-day simple moving average is $57.79. The firm has a market cap of $12.25 billion, a P/E ratio of 22.03, a PEG 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 the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. Equities analysts anticipate that W. P. Carey Inc. will post 4.49 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. Investors of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.29%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is presently 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.