Procyon Advisors LLC Cuts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Procyon Advisors LLC lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,908 shares of the real estate investment trust’s stock after selling 458 shares during the period. Procyon Advisors LLC’s holdings in W. P. Carey were worth $213,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WPC. Quarry LP grew its position in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Maia Wealth LLC purchased a new stake in W. P. Carey in the third quarter valued at approximately $40,000. Massmutual Trust Co. FSB ADV lifted its position in W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Barclays restated an “underweight” rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Trading Up 0.5 %

NYSE WPC opened at $55.81 on Monday. The stock has a market cap of $12.21 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.42. The stock’s fifty day moving average price is $55.51 and its 200-day moving average price is $57.85.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million during 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 for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. As a group, equities analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

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.