RFG Advisory LLC Acquires 1,057 Shares of W. P. Carey Inc. (NYSE:WPC)

RFG Advisory LLC lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 16.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,430 shares of the real estate investment trust’s stock after buying an additional 1,057 shares during the quarter. RFG Advisory LLC’s holdings in W. P. Carey were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. ST Germain D J Co. Inc. raised its holdings in shares of W. P. Carey by 162.1% in the first quarter. ST Germain D J Co. Inc. now owns 2,600 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 1,608 shares during the last quarter. Merit Financial Group LLC acquired a new stake in W. P. Carey in the first quarter worth about $397,000. High Net Worth Advisory Group LLC acquired a new stake in W. P. Carey in the first quarter worth about $238,000. LVW Advisors LLC acquired a new stake in W. P. Carey in the first quarter worth about $215,000. Finally, NBC Securities Inc. increased its position in W. P. Carey by 108,600.0% in the first quarter. NBC Securities Inc. now owns 8,696 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 8,688 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC opened at $62.60 on Friday. The stock has a 50 day simple moving average of $60.87 and a 200 day simple moving average of $59.02. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $13.71 billion, a PE ratio of 29.95, a P/E/G ratio of 1.06 and a beta of 0.80.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The business had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same period in the previous year, the company posted $1.14 earnings per share. W. P. Carey’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.69%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 183.51%.

Analyst Ratings Changes

A number of analysts recently commented on WPC shares. Royal Bank of Canada lifted their price objective on W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, UBS Group decreased their target price on W. P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $109.00.

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.