Xponance Inc. Purchases 18,450 Shares of W. P. Carey Inc. (NYSE:WPC)

Xponance Inc. grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 226.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,598 shares of the real estate investment trust’s stock after buying an additional 18,450 shares during the quarter. Xponance Inc.’s holdings in W. P. Carey were worth $1,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey during the 4th quarter valued at $28,000. FNY Investment Advisers LLC purchased a new position in W. P. Carey in the 4th quarter worth $32,000. Covestor Ltd raised its position in W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares during the period. First Horizon Advisors Inc. purchased a new position in W. P. Carey in the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group purchased a new position in W. P. Carey in the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.1 %

Shares of WPC opened at $56.30 on Wednesday. The firm’s 50-day moving average price is $56.05 and its 200-day moving average price is $58.80. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.45 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66.

W. P. Carey (NYSE:WPC) last announced its 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 net margin of 40.68% and a return on equity of 7.78%. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.15%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is presently 104.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. 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 on the stock in a research report on Tuesday, February 20th. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Scotiabank cut their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average price target of $63.36.

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.