Wolverine Asset Management LLC Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

Wolverine Asset Management LLC reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 92.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,039 shares of the real estate investment trust's stock after selling 51,317 shares during the quarter. Wolverine Asset Management LLC's holdings in W. P. Carey were worth $262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its position in shares of W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust's stock valued at $273,000 after acquiring an additional 191 shares during the period. Gradient Capital Advisors LLC grew its position in shares of W. P. Carey by 0.6% in the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust's stock valued at $2,215,000 after acquiring an additional 199 shares during the period. Capital Planning Advisors LLC grew its position in shares of W. P. Carey by 5.5% in the 3rd quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust's stock valued at $214,000 after acquiring an additional 207 shares during the period. Retirement Planning Co of New England Inc. lifted its stake in shares of W. P. Carey by 4.7% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust's stock worth $264,000 after buying an additional 221 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in shares of W. P. Carey by 4.6% during the 3rd quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust's stock worth $274,000 after buying an additional 224 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 1.7 %

WPC traded down $0.95 during trading on Friday, reaching $55.03. 1,167,421 shares of the company's stock were exchanged, compared to its average volume of 981,356. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $74.66. 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 stock has a market capitalization of $12.04 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. The firm has a fifty day moving average price of $55.99 and a two-hundred day moving average price of $58.83.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The firm 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 firm posted $1.29 EPS. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.865 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey's dividend payout ratio is currently 104.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WPC. Barclays began coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 target price for the company. Wells Fargo & Company cut their target price on shares of W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 20th. Raymond James cut shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research note on Monday, February 12th. StockNews.com assumed coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a "hold" rating for the company. Finally, Scotiabank dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating for the company in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $63.36.

About W. P. Carey

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.