Raymond James & Associates cut its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 207,633 shares of the real estate investment trust's stock after selling 20,786 shares during the period. Raymond James & Associates owned 0.09% of W. P. Carey worth $13,457,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in WPC. Fairfield Bush & CO. bought a new stake in shares of W. P. Carey in the 1st quarter valued at $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey in the first quarter valued at $26,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the fourth quarter valued at about $28,000. Quarry LP raised its holdings in shares of W. P. Carey by 438.5% in the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 342 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of W. P. Carey during the 3rd quarter valued at approximately $29,000. 73.73% of the stock is owned by institutional investors and hedge funds.
W. P. Carey Trading Up 0.3 %
WPC traded up $0.16 during midday trading on Thursday, hitting $55.10. The company's stock had a trading volume of 766,625 shares, compared to its average volume of 1,420,560. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a market cap of $12.06 billion, a P/E ratio of 16.70, a PEG ratio of 0.44 and a beta of 0.86. The firm has a 50-day moving average price of $57.42 and a two-hundred day moving average price of $58.87. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $75.61.
W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same period in the previous year, the company posted $1.29 EPS. The company's revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that W. P. Carey Inc. will post 4.57 earnings per share for the current year.
W. P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. W. P. Carey's payout ratio is 104.85%.
Analyst Ratings Changes
WPC has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company decreased their price target on shares of W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 20th. Scotiabank cut their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a report on Monday, March 4th. StockNews.com began coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a "hold" rating on the stock. Finally, Raymond James lowered shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, W. P. Carey has a consensus rating of "Hold" and an average price target of $63.36.
Read Our Latest Research Report on W. P. Carey
About W. P. Carey
(
Free Report)
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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