Wealth Enhancement Advisory Services LLC Purchases 6,000 Shares of W.P. Carey Inc. (NYSE:WPC)

Wealth Enhancement Advisory Services LLC raised its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,509 shares of the real estate investment trust's stock after acquiring an additional 6,000 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.09% of W.P. Carey worth $13,096,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DF Dent & Co. Inc. raised its holdings in W.P. Carey by 3.5% in the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after acquiring an additional 183 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of W.P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after purchasing an additional 193 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of W.P. Carey by 2.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 11,531 shares of the real estate investment trust's stock valued at $628,000 after purchasing an additional 293 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in W.P. Carey by 5.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust's stock worth $341,000 after acquiring an additional 315 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in W.P. Carey by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 44,584 shares of the real estate investment trust's stock worth $2,429,000 after acquiring an additional 330 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WPC shares. BNP Paribas set a $66.00 price objective on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research report on Monday, June 9th. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective on 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. Finally, Scotiabank boosted their price objective on 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. One research 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $100.40.

W.P. Carey Stock Performance

NYSE:WPC opened at $63.38 on Monday. The business's 50-day moving average price is $61.86 and its two-hundred day moving average price is $59.51. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The stock has a market cap of $13.88 billion, a P/E ratio of 32.67, a PEG ratio of 7.06 and a beta of 0.80. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92.

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 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 firm had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. During the same period in the prior year, the business posted $1.14 earnings per share. The business's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict 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 will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.90 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date is Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is currently 183.51%.

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.

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