WASHINGTON TRUST Co Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

WASHINGTON TRUST Co lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,473 shares of the real estate investment trust’s stock after selling 415 shares during the period. WASHINGTON TRUST Co’s holdings in W. P. Carey were worth $160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairfield Bush & CO. purchased a new position in W. P. Carey during the first quarter valued at $26,000. Acadian Asset Management LLC bought a new position in shares of W. P. Carey during the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $32,000. Quarry LP boosted its position in shares of W. P. Carey by 438.5% in the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 342 shares in the last quarter. Finally, Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey in the 4th quarter worth approximately $28,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. StockNews.com assumed coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Wells Fargo & Company cut their price objective on 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. Scotiabank decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Royal Bank of Canada dropped their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Two investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Trading Up 0.8 %

Shares of NYSE:WPC opened at $56.44 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $78.23. The business’s 50-day moving average is $58.32 and its 200 day moving average is $59.15. The firm has a market capitalization of $12.34 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.44 and a beta of 0.86.

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 (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. W. P. Carey’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. On average, research analysts predict that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 6.13%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, March 27th. W. P. Carey’s payout ratio is presently 104.24%.

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.