Capital Investment Advisory Services LLC Has $477,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Capital Investment Advisory Services LLC trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,358 shares of the real estate investment trust’s stock after selling 323 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in W. P. Carey were worth $477,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WPC. Central Bank & Trust Co. acquired a new position in W. P. Carey in the 4th quarter valued at approximately $28,000. FNY Investment Advisers LLC acquired a new position in W. P. Carey in the 4th quarter valued at approximately $32,000. Covestor Ltd increased its position in W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 595 shares during the period. First Horizon Advisors Inc. acquired a new position in W. P. Carey in the 3rd quarter valued at approximately $45,000. Finally, Provence Wealth Management Group acquired a new position in W. P. Carey in the 3rd quarter valued at approximately $46,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada reduced their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Barclays started coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Finally, Scotiabank reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.36.

W. P. Carey Stock Performance

WPC opened at $56.30 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The company’s fifty day moving average price is $56.05 and its two-hundred day moving average price is $58.80. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.45 and a beta of 0.86.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.865 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.15%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is currently 104.85%.

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.