11,045 Shares in W.P. Carey Inc. (NYSE:WPC) Acquired by BLB&B Advisors LLC

BLB&B Advisors LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,045 shares of the real estate investment trust's stock, valued at approximately $697,000.

Several other hedge funds also recently made changes to their positions in WPC. Oppenheimer & Co. Inc. grew its position in shares of W.P. Carey by 22.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,550 shares of the real estate investment trust's stock valued at $684,000 after purchasing an additional 2,297 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of W.P. Carey in the fourth quarter valued at $1,428,000. US Bancorp DE grew its position in shares of W.P. Carey by 8.3% in the fourth quarter. US Bancorp DE now owns 32,764 shares of the real estate investment trust's stock valued at $1,785,000 after purchasing an additional 2,499 shares in the last quarter. Metis Global Partners LLC grew its position in shares of W.P. Carey by 7.4% in the fourth quarter. Metis Global Partners LLC now owns 28,059 shares of the real estate investment trust's stock valued at $1,529,000 after purchasing an additional 1,928 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of W.P. Carey by 59.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,099 shares of the real estate investment trust's stock valued at $169,000 after purchasing an additional 1,150 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Stock Down 0.5%

Shares of WPC stock traded down $0.33 during midday trading on Friday, reaching $63.00. 441,062 shares of the stock were exchanged, compared to its average volume of 1,166,449. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company's 50 day moving average is $62.26 and its two-hundred day moving average is $59.99. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market cap of $13.79 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 7.04 and a beta of 0.78.

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). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. During the same quarter last year, the company posted $1.14 EPS. The firm's revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.71%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is presently 185.57%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WPC shares. Evercore ISI boosted their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research report on Monday, June 9th. 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 report on Monday, March 10th. Barclays set a $61.00 target price on W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. Finally, UBS Group reduced their target price on 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $100.60.

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.