Private Advisor Group LLC Has $4.62 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Private Advisor Group LLC cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,263 shares of the real estate investment trust’s stock after selling 10,821 shares during the quarter. Private Advisor Group LLC’s holdings in W. P. Carey were worth $4,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WPC. Raleigh Capital Management Inc. lifted its holdings in W. P. Carey by 3.9% in the third 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. SRS Capital Advisors Inc. grew its position in shares of W. P. Carey by 1.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 191 shares during the period. Gradient Capital Advisors LLC increased 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 in the last quarter. Capital Planning Advisors LLC lifted its position in shares of W. P. Carey by 5.5% during the 3rd quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 207 shares during the period. Finally, Retirement Planning Co of New England Inc. boosted its stake in W. P. Carey by 4.7% during the third 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 acquiring an additional 221 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research analyst reports. Scotiabank decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company decreased their target price on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Finally, Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.18.

W. P. Carey Stock Up 1.9 %

WPC stock opened at $57.86 on Friday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38. The stock has a fifty day moving average of $56.04 and a 200-day moving average of $58.94. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted its 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. The firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.53 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. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 5.98%. W. P. Carey’s payout ratio is presently 131.56%.

W. P. Carey 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.