Ethic Inc. trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 38.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,108 shares of the real estate investment trust's stock after selling 5,100 shares during the quarter. Ethic Inc.'s holdings in W. P. Carey were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in WPC. Park Avenue Securities LLC boosted its holdings in W. P. Carey by 9.5% during the fourth quarter. Park Avenue Securities LLC now owns 6,443 shares of the real estate investment trust's stock valued at $351,000 after purchasing an additional 560 shares in the last quarter. Winch Advisory Services LLC acquired a new stake in W. P. Carey during the 4th quarter valued at $69,000. Arkadios Wealth Advisors raised its position in W. P. Carey by 60.7% in the 4th quarter. Arkadios Wealth Advisors now owns 30,391 shares of the real estate investment trust's stock valued at $1,656,000 after purchasing an additional 11,478 shares during the last quarter. HB Wealth Management LLC boosted its stake in W. P. Carey by 21.8% in the fourth quarter. HB Wealth Management LLC now owns 15,266 shares of the real estate investment trust's stock worth $832,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in W. P. Carey by 4.8% in the fourth quarter. Ameritas Advisory Services LLC now owns 15,826 shares of the real estate investment trust's stock worth $862,000 after purchasing an additional 726 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.
W. P. Carey Trading Down 0.2%
Shares of W. P. Carey stock traded down $0.12 during trading hours on Monday, hitting $61.74. The company's stock had a trading volume of 1,017,272 shares, compared to its average volume of 1,170,130. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a 50 day moving average of $60.95 and a 200 day moving average of $58.41. The company has a market capitalization of $13.52 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.
W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 earnings per share. Analysts predict that W. P. Carey Inc. will post 4.87 earnings per share for the current year.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.89 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.77%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 183.51%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on WPC shares. UBS Group reduced their price objective on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada boosted their price objective on W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Scotiabank boosted their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Wells Fargo & Company boosted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $108.88.
View Our Latest Analysis on WPC
About W. P. Carey
(
Free Report)
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.
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