Perigon Wealth Management LLC Decreases Stake in W. P. Carey Inc. (NYSE:WPC)

Perigon Wealth Management LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Victory Capital Management Inc. increased its stake in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares in the last quarter. FMR LLC raised its holdings in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares during the last quarter. International Assets Investment Management LLC boosted its position in W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in W. P. Carey by 274.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock valued at $25,282,000 after purchasing an additional 297,432 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.5 %

WPC stock opened at $55.96 on Friday. The company has a 50 day moving average price of $55.44 and a two-hundred day moving average price of $57.79. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization 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 Inc. has a one year low of $52.91 and a one year high of $64.26.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the firm earned $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that W. P. Carey Inc. will post 4.49 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 $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.29%. W. P. Carey’s payout ratio is 138.58%.

Wall Street Analyst Weigh In

WPC has been the topic of several recent research reports. Scotiabank decreased 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 report on Thursday, January 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. UBS Group cut their price objective on 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. Finally, Barclays reiterated an “underweight” rating and set a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. One equities 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 stock. According to data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Company 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.