W. P. Carey Inc. (NYSE:WPC) Position Lifted by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in W. P. Carey Inc. (NYSE:WPC) by 21.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,266 shares of the real estate investment trust’s stock after purchasing an additional 2,732 shares during the period. HB Wealth Management LLC’s holdings in W. P. Carey were worth $832,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after buying an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after acquiring an additional 103,147 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after purchasing an additional 264,230 shares during the period. Finally, Equity Investment Corp raised its holdings in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.9 %

NYSE:WPC opened at $56.86 on Wednesday. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.42. The business has a fifty day moving average of $55.55 and a 200-day moving average of $57.86.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. Equities analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Wall Street Analysts Forecast Growth

WPC has been the subject of several research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Scotiabank dropped their price target 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, January 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Finally, Barclays reaffirmed an “underweight” rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $62.43.

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.