Columbia Asset Management Has $298,000 Stake in W. P. Carey Inc. (NYSE:WPC)

Columbia Asset Management reduced its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 90.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,725 shares of the real estate investment trust's stock after selling 46,000 shares during the quarter. Columbia Asset Management's holdings in W. P. Carey were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service bought a new position in W. P. Carey in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey in the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey in the 4th quarter valued at $37,000. Bessemer Group Inc. raised its holdings in shares of 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 in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of W. P. Carey during the 4th quarter worth $44,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.8%

Shares of W. P. Carey stock traded up $0.51 during trading on Friday, hitting $62.60. The company's stock had a trading volume of 710,666 shares, compared to its average volume of 1,176,923. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The stock has a 50-day moving average price of $60.88 and a two-hundred day moving average price of $58.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS 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 company's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. Equities research analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is currently 183.51%.

Analyst Ratings Changes

WPC has been the topic of a number of recent analyst reports. UBS Group decreased their target price on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Scotiabank increased their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. 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. Finally, Royal Bank of Canada upped their price target 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. One equities research 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.