W. P. Carey Inc. (NYSE:WPC) Shares Sold by PSI Advisors LLC

PSI Advisors LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,846 shares of the real estate investment trust’s stock after selling 878 shares during the quarter. PSI Advisors LLC’s holdings in W. P. Carey were worth $120,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Handelsbanken Fonder AB lifted its holdings in shares of W. P. Carey by 5.2% during the fourth quarter. Handelsbanken Fonder AB now owns 139,094 shares of the real estate investment trust’s stock worth $9,015,000 after purchasing an additional 6,921 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of W. P. Carey by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,903 shares of the real estate investment trust’s stock worth $3,623,000 after purchasing an additional 1,129 shares during the period. Gradient Capital Advisors LLC lifted its holdings in shares of W. P. Carey by 0.6% during the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 199 shares during the period. Signaturefd LLC lifted its holdings in shares of W. P. Carey by 65.3% during the fourth quarter. Signaturefd LLC now owns 7,341 shares of the real estate investment trust’s stock worth $476,000 after purchasing an additional 2,899 shares during the period. Finally, abrdn plc lifted its holdings in shares of W. P. Carey by 41.3% during the fourth quarter. abrdn plc now owns 118,968 shares of the real estate investment trust’s stock worth $7,710,000 after purchasing an additional 34,751 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada reduced their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Barclays initiated coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Scotiabank reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Finally, StockNews.com initiated coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Trading Up 0.3 %

Shares of WPC stock opened at $56.39 on Monday. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $74.66. The stock has a market cap of $12.34 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.45 and a beta of 0.86. The business has a fifty day simple moving average of $56.06 and a 200-day simple moving average of $58.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share 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 during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter last year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts forecast that W. P. Carey Inc. will post 4.57 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. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio (DPR) 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.