Prime Capital Investment Advisors LLC Reduces Stake in W. P. Carey Inc. (NYSE:WPC)

Prime Capital Investment Advisors LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,409 shares of the real estate investment trust’s stock after selling 338 shares during the period. Prime Capital Investment Advisors LLC’s holdings in W. P. Carey were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC grew its position in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the period. Quarry LP increased its holdings in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new position in W. P. Carey in the second quarter worth approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of W. P. Carey during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WPC. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays upped their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

WPC stock opened at $55.77 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $59.52 and its 200-day moving average price is $58.21. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The company has a market capitalization of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. W. P. Carey’s payout ratio is presently 137.80%.

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.