Wealth Enhancement Advisory Services LLC Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Wealth Enhancement Advisory Services LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,790 shares of the real estate investment trust’s stock after purchasing an additional 1,402 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of W. P. Carey worth $7,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after buying an additional 444,785 shares in the last quarter. Finally, FMR LLC increased its stake in shares of W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC opened at $53.93 on Monday. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $55.62 and a 200 day moving average price of $57.86. The company has a market cap of $11.80 billion, a P/E ratio of 21.23, a PEG ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results 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). The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS. On average, research analysts forecast that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.53%. W. P. Carey’s payout ratio is currently 138.58%.

Wall Street Analyst Weigh In

WPC has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays reiterated an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Finally, Evercore ISI raised 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $62.57.

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.