Octavia Wealth Advisors LLC Sells 3,661 Shares of W. P. Carey Inc. (NYSE:WPC)

Octavia Wealth Advisors LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,297 shares of the real estate investment trust’s stock after selling 3,661 shares during the period. Octavia Wealth Advisors LLC’s holdings in W. P. Carey were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in W. P. Carey in the first quarter worth approximately $26,000. Acadian Asset Management LLC purchased a new stake in W. P. Carey in the first quarter worth approximately $26,000. Central Bank & Trust Co. purchased a new stake in W. P. Carey in the fourth quarter worth approximately $28,000. Quarry LP boosted its holdings in W. P. Carey by 438.5% in the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 342 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in W. P. Carey in the third quarter worth approximately $29,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 1.3 %

WPC opened at $53.31 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $74.66. The firm’s fifty day moving average is $56.36 and its 200 day moving average is $58.72. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.43 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. W. P. Carey’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. On average, sell-side analysts forecast that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.49%. W. P. Carey’s payout ratio is currently 104.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Scotiabank dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Finally, Wells Fargo & Company dropped their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.36.

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.