Cerity Partners LLC Has $1 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Cerity Partners LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,420 shares of the real estate investment trust’s stock after purchasing an additional 1,555 shares during the quarter. Cerity Partners LLC’s holdings in W. P. Carey were worth $1,000,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Fairfield Bush & CO. bought a new position in shares of W. P. Carey in the 1st quarter valued at $26,000. Acadian Asset Management LLC bought a new position in shares of W. P. Carey in the 1st quarter valued at $26,000. Central Bank & Trust Co. bought a new position in shares of W. P. Carey in the 4th quarter valued at $28,000. Quarry LP raised its position in W. P. Carey by 438.5% during 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 during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in W. P. Carey during the 4th quarter worth $32,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Scotiabank lowered 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 lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Barclays assumed coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Royal Bank of Canada lowered their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, StockNews.com assumed coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.36.

W. P. Carey Stock Performance

Shares of WPC opened at $56.21 on Monday. 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 stock has a 50-day moving average of $56.06 and a 200-day moving average of $58.77. The company has a market cap of $12.30 billion, a PE ratio of 17.03, a P/E/G ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $74.66.

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

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.16%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 104.85%.

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.