Legacy Capital Wealth Partners LLC Acquires New Stake in W. P. Carey Inc. (NYSE:WPC)

Legacy Capital Wealth Partners LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,350 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Other large investors have also made changes to their positions in the company. Raleigh Capital Management Inc. grew its stake in shares of W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 191 shares during the period. Gradient Capital Advisors LLC raised its stake in shares of W. P. Carey by 0.6% in the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 199 shares during the period. Capital Planning Advisors LLC lifted its holdings in shares of W. P. Carey by 5.5% in the 3rd quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 207 shares during the last quarter. Retirement Planning Co of New England Inc. boosted its position in shares of W. P. Carey by 4.7% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 221 shares during the period. Finally, Main Street Financial Solutions LLC increased its holdings in W. P. Carey by 4.6% in the 3rd quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 224 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE:WPC opened at $55.70 on Tuesday. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $12.19 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. The business’s fifty day moving average price is $55.99 and its 200 day moving average price is $58.86.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.21%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. StockNews.com started coverage on W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating for the company. Scotiabank cut 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. Wells Fargo & Company reduced 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 report on Tuesday, February 20th. Finally, Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.36.

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.