Kingswood Wealth Advisors LLC Has $1.35 Million Holdings in W.P. Carey Inc. (NYSE:WPC)

Kingswood Wealth Advisors LLC boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 121.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,434 shares of the real estate investment trust's stock after acquiring an additional 11,773 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in W.P. Carey were worth $1,351,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of W.P. Carey during the 4th quarter worth about $139,381,000. Demars Financial Group LLC raised its stake in shares of W.P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock worth $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of W.P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp raised its stake in shares of W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of W.P. Carey during the 4th quarter worth about $31,442,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target 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. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research note on Monday, June 9th. Barclays set a $61.00 price target on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. Finally, UBS Group cut their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and an average price target of $100.40.

W.P. Carey Stock Performance

NYSE WPC traded down $0.34 during trading on Friday, hitting $63.38. The company's stock had a trading volume of 3,623,878 shares, compared to its average volume of 1,176,870. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average price of $61.86 and a 200 day moving average price of $59.46. The firm has a market cap of $13.88 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 7.09 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.

W.P. Carey (NYSE:WPC - Get Free Report) last issued 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). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. Equities research analysts forecast 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 will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.90 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.68%. The ex-dividend date is Monday, June 30th. W.P. Carey's payout ratio is currently 183.51%.

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.