J.W. Cole Advisors Inc. Sells 1,430 Shares of W. P. Carey Inc. (NYSE:WPC)

J.W. Cole Advisors Inc. reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,503 shares of the real estate investment trust’s stock after selling 1,430 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in W. P. Carey were worth $745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after acquiring an additional 1,124,010 shares during the period. Demars Financial Group LLC boosted its stake in shares of W. P. Carey by 14.0% during the 3rd quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock worth $4,122,000 after acquiring an additional 9,334 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of W. P. Carey during the 3rd quarter worth approximately $613,000. Arizona State Retirement System boosted its stake in shares of W. P. Carey by 0.8% during the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock worth $3,811,000 after acquiring an additional 439 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of W. P. Carey by 5.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after acquiring an additional 10,562 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $56.22 on Tuesday. The stock has a market capitalization of $12.30 billion, a PE ratio of 17.04, a P/E/G ratio of 0.45 and a beta of 0.86. 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 business has a fifty day moving average price of $56.05 and a two-hundred day moving average price of $58.80. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $74.66.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, topping 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 company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter in the previous year, the firm earned $1.29 EPS. W. P. Carey’s revenue was up 2.0% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued 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 dividend yield of 6.15%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 104.85%.

Wall Street Analyst Weigh In

WPC has been the subject of several recent research reports. Barclays initiated coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com initiated coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Wells Fargo & Company reduced their price target 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. Finally, Royal Bank of Canada reduced their price target 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.com, the company presently has an average rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Company 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.