BridgePort Financial Solutions LLC Buys New Stake in W. P. Carey Inc. (NYSE:WPC)

BridgePort Financial Solutions LLC bought a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,522 shares of the real estate investment trust's stock, valued at approximately $1,499,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of W. P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock valued at $1,679,110,000 after acquiring an additional 242,576 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of W. P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after acquiring an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after acquiring an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after acquiring an additional 43,197 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of W. P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock valued at $143,894,000 after acquiring an additional 758,627 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Down 0.4%

WPC stock traded down $0.23 during midday trading on Friday, reaching $62.86. The company had a trading volume of 2,970,859 shares, compared to its average volume of 1,187,586. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $13.76 billion, a P/E ratio of 30.08, a PEG ratio of 1.06 and a beta of 0.78. The company has a 50 day moving average of $60.93 and a two-hundred day moving average of $58.79.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The business had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the company earned $1.14 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that W. P. Carey Inc. will post 4.87 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.89 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.66%. W. P. Carey's dividend payout ratio is 183.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on WPC shares. Evercore ISI upped 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 report on Wednesday, February 19th. Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. UBS Group cut their target price on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company increased their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, 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 research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average target price of $109.00.

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.