WCG Wealth Advisors LLC Sells 4,629 Shares of W. P. Carey Inc. (NYSE:WPC)

WCG Wealth Advisors LLC trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,168 shares of the real estate investment trust's stock after selling 4,629 shares during the period. WCG Wealth Advisors LLC's holdings in W. P. Carey were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WPC. Park Avenue Securities LLC raised its holdings in shares of W. P. Carey by 9.5% during the fourth quarter. Park Avenue Securities LLC now owns 6,443 shares of the real estate investment trust's stock worth $351,000 after acquiring an additional 560 shares during the period. UMB Bank n.a. raised its holdings in shares of W. P. Carey by 33.8% during the fourth quarter. UMB Bank n.a. now owns 1,930 shares of the real estate investment trust's stock worth $105,000 after acquiring an additional 488 shares during the period. Ballentine Partners LLC increased its stake in W. P. Carey by 8.5% in the 4th quarter. Ballentine Partners LLC now owns 7,131 shares of the real estate investment trust's stock valued at $388,000 after buying an additional 559 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in W. P. Carey by 2.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust's stock valued at $8,131,000 after buying an additional 3,416 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in W. P. Carey by 4.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 24,037 shares of the real estate investment trust's stock valued at $1,310,000 after buying an additional 1,104 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of WPC traded down $0.08 during midday trading on Thursday, reaching $62.76. The stock had a trading volume of 588,658 shares, compared to its average volume of 1,176,324. The firm has a 50 day simple moving average of $60.87 and a 200-day simple moving average of $58.69. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The firm has a market cap of $13.74 billion, a PE ratio of 30.00, a P/E/G ratio of 1.06 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data 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). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm 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 earned $1.14 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.89 per share. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.67%. W. P. Carey's payout ratio is presently 183.51%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays set a $61.00 price target on shares of W. P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. Royal Bank of Canada lifted their price target 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. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. UBS Group lowered their price target on shares of 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. Finally, Wells Fargo & Company lifted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $109.00.

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.