Cetera Investment Advisers Buys 32,564 Shares of W.P. Carey Inc. (NYSE:WPC)

Cetera Investment Advisers boosted its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,043 shares of the real estate investment trust's stock after purchasing an additional 32,564 shares during the period. Cetera Investment Advisers owned about 0.13% of W.P. Carey worth $18,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WPC. Avantax Advisory Services Inc. increased its position in W.P. Carey by 10.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 70,297 shares of the real estate investment trust's stock valued at $4,436,000 after acquiring an additional 6,673 shares during the period. Brookwood Investment Group LLC acquired a new position in W.P. Carey in the 1st quarter valued at approximately $558,000. Kovack Advisors Inc. increased its position in W.P. Carey by 15.5% in the 1st quarter. Kovack Advisors Inc. now owns 5,593 shares of the real estate investment trust's stock valued at $353,000 after acquiring an additional 749 shares during the period. Carnegie Investment Counsel increased its position in W.P. Carey by 1.1% in the 1st quarter. Carnegie Investment Counsel now owns 162,913 shares of the real estate investment trust's stock valued at $10,281,000 after acquiring an additional 1,725 shares during the period. Finally, AE Wealth Management LLC increased its position in W.P. Carey by 94.8% in the 1st quarter. AE Wealth Management LLC now owns 8,943 shares of the real estate investment trust's stock valued at $564,000 after acquiring an additional 4,353 shares during the period. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upped their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. UBS Group decreased their price objective 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. Finally, Barclays set a $61.00 price objective on shares of W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, W.P. Carey currently has an average rating of "Hold" and a consensus price target of $104.22.

W.P. Carey Trading Down 0.8%

NYSE:WPC opened at $64.09 on Tuesday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 6.35 and a beta of 0.78. The firm has a fifty day simple moving average of $62.73 and a two-hundred day simple moving average of $60.94. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data 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 net margin of 26.66% and a return on equity of 5.02%. The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. During the same period last year, the business posted $1.14 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.62%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is 185.57%.

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.

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