NewSquare Capital LLC Has $55,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

NewSquare Capital LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 25.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 843 shares of the real estate investment trust’s stock after selling 283 shares during the period. NewSquare Capital LLC’s holdings in W. P. Carey were worth $55,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WPC. Daiwa Securities Group Inc. boosted its position in W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Legal & General Group Plc lifted its stake in W. P. Carey by 1.3% in the third quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock valued at $153,352,000 after buying an additional 37,055 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of W. P. Carey by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,056 shares of the real estate investment trust’s stock worth $126,388,000 after buying an additional 12,982 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 17.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock worth $123,592,000 after buying an additional 334,635 shares during the period. Finally, PGGM Investments increased its stake in shares of W. P. Carey by 7.3% in the 3rd quarter. PGGM Investments now owns 2,108,963 shares of the real estate investment trust’s stock valued at $114,053,000 after acquiring an additional 142,649 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Stock Up 0.1 %

NYSE:WPC traded up $0.07 during trading hours on Wednesday, hitting $56.38. 349,432 shares of the company traded hands, compared to its average volume of 1,355,988. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $74.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The company has a market cap of $12.34 billion, a PE ratio of 17.06, a PEG ratio of 0.45 and a beta of 0.86. The firm’s 50-day simple moving average is $56.05 and its 200-day simple moving average is $58.80.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.865 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.14%. W. P. Carey’s dividend payout ratio is currently 104.85%.

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.