Wealth Management Strategies Inc. purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,305 shares of the real estate investment trust's stock, valued at approximately $234,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Pension Service purchased a new stake in shares of W. P. Carey during the 4th quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the fourth quarter valued at $37,000. Millstone Evans Group LLC purchased a new stake in W. P. Carey during the 4th quarter worth about $37,000. Bessemer Group Inc. lifted its holdings in W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after buying an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of W. P. Carey during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 73.73% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price 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. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank increased their target price 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. Evercore ISI boosted 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. Finally, Royal Bank of Canada upped their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $109.00.
View Our Latest Stock Analysis on WPC
W. P. Carey Stock Performance
Shares of NYSE WPC traded up $1.17 during mid-day trading on Tuesday, hitting $62.54. 1,700,186 shares of the company were exchanged, compared to its average volume of 1,179,262. The stock has a 50 day simple moving average of $60.82 and a 200-day simple moving average of $58.63. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78.
W. P. Carey (NYSE:WPC - Get Free Report) last released its 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 firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the business posted $1.14 EPS. The firm's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date was Monday, March 31st. 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 yield of 5.69%. W. P. Carey's dividend payout ratio (DPR) is 183.51%.
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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