Client 1ST Advisory Group LLC Buys Shares of 12,330 W. P. Carey Inc. (NYSE:WPC)

Client 1ST Advisory Group LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,330 shares of the real estate investment trust’s stock, valued at approximately $672,000.

A number of other hedge funds also recently made changes to their positions in WPC. Quarry LP lifted its stake in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey in the 3rd quarter valued at $40,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 35.9% during 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 in the last quarter. Abich Financial Wealth Management LLC grew its position in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.5 %

WPC opened at $55.81 on Monday. The stock has a market cap of $12.21 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. 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 twelve month low of $52.91 and a twelve month high of $66.42. The company has a fifty day moving average of $55.51 and a 200-day moving average of $57.85.

W. P. Carey (NYSE:WPC) last posted 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the business posted $1.32 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analyst Weigh In

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

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.