W. P. Carey Inc. (NYSE:WPC) Shares Sold by IAG Wealth Partners LLC

IAG Wealth Partners LLC reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 11.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,594 shares of the real estate investment trust’s stock after selling 319 shares during the quarter. IAG Wealth Partners LLC’s holdings in W. P. Carey were worth $168,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of WPC. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey during the 4th quarter worth about $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey during the 4th quarter worth about $32,000. Covestor Ltd boosted its stake in shares of W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 595 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of W. P. Carey during the 3rd quarter worth about $45,000. Finally, Provence Wealth Management Group purchased a new stake in shares of W. P. Carey during the 3rd quarter worth about $46,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Down 1.7 %

Shares of NYSE WPC opened at $55.03 on Friday. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $74.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day simple moving average of $55.99 and a 200-day simple moving average of $58.80. The company has a market capitalization of $12.04 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same quarter last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that W. P. Carey Inc. will post 4.56 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 6.29%. The ex-dividend date was Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio (DPR) is 104.85%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WPC. Royal Bank of Canada decreased their price target 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. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company decreased their price target 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. StockNews.com began coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating on the stock. Finally, Scotiabank decreased their price target 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.36.

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.