27,522 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by BridgePort Financial Solutions LLC

BridgePort Financial Solutions LLC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 27,522 shares of the real estate investment trust's stock, valued at approximately $1,499,000.

A number of other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in shares of W. P. Carey by 2.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust's stock valued at $8,131,000 after acquiring an additional 3,416 shares in the last quarter. RFG Advisory LLC lifted its position in W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock worth $347,000 after acquiring an additional 3,049 shares during the last quarter. PFG Investments LLC lifted its position in W. P. Carey by 53.9% during the 4th quarter. PFG Investments LLC now owns 12,412 shares of the real estate investment trust's stock worth $676,000 after acquiring an additional 4,346 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in W. P. Carey by 116.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,661 shares of the real estate investment trust's stock worth $526,000 after acquiring an additional 5,191 shares during the last quarter. Finally, Blue Trust Inc. raised its position in W. P. Carey by 115.0% in the fourth quarter. Blue Trust Inc. now owns 3,352 shares of the real estate investment trust's stock worth $183,000 after purchasing an additional 1,793 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Royal Bank of Canada increased their target price on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays set a $61.00 price objective on shares of W. P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $109.00.

W. P. Carey Trading Up 0.6%

NYSE WPC traded up $0.35 during trading hours on Wednesday, hitting $62.83. 1,191,734 shares of the company's stock were exchanged, compared to its average volume of 1,178,600. The stock has a 50-day simple moving average of $60.87 and a 200 day simple moving average of $58.69. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.06 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, equities analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current fiscal 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 issued a $0.89 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's dividend payout ratio is presently 183.51%.

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.