RFG Advisory LLC Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

RFG Advisory LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 91.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,373 shares of the real estate investment trust’s stock after purchasing an additional 3,049 shares during the period. RFG Advisory LLC’s holdings in W. P. Carey were worth $347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP increased its holdings in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares in the last quarter. Maia Wealth LLC bought a new stake in shares of W. P. Carey in the third quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of 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 lifted its position in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

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

W. P. Carey Trading Up 3.1 %

Shares of NYSE WPC opened at $56.96 on Tuesday. The stock has a market capitalization of $12.47 billion, a P/E ratio of 22.43, a PEG ratio of 1.00 and a beta of 0.97. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26. The business’s 50 day moving average is $55.54 and its two-hundred day moving average is $57.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, research analysts expect that W. P. Carey Inc. will post 4.49 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 dividend yield of 6.18%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

W. P. Carey 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.