Allen Capital Group LLC Sells 545 Shares of W. P. Carey Inc. (NYSE:WPC)

Allen Capital Group LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,659 shares of the real estate investment trust’s stock after selling 545 shares during the quarter. Allen Capital Group LLC’s holdings in W. P. Carey were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WPC. Fairfield Bush & CO. bought a new stake in W. P. Carey in the 1st quarter valued at about $26,000. Acadian Asset Management LLC bought a new stake in shares of W. P. Carey during the 1st quarter valued at $26,000. ICA Group Wealth Management LLC purchased a new position in W. P. Carey during the fourth quarter valued at $32,000. Quarry LP boosted its stake in shares of W. P. Carey by 438.5% during the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 342 shares during the last quarter. Finally, Central Bank & Trust Co. purchased a new position in W. P. Carey during the fourth quarter valued at $28,000. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WPC. Wells Fargo & Company reduced their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Barclays began coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Royal Bank of Canada cut their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. StockNews.com began coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Finally, Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Stock Down 1.3 %

Shares of WPC opened at $53.32 on Wednesday. The firm has a market cap of $11.67 billion, a P/E ratio of 16.15, a PEG ratio of 0.43 and a beta of 0.86. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66. The stock’s 50 day moving average is $56.36 and its two-hundred day moving average is $58.72. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The business had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. During the same period last year, the business earned $1.29 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Analysts predict that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is 104.85%.

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.