SRS Capital Advisors Inc. Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

SRS Capital Advisors Inc. increased its position in W. P. Carey Inc. (NYSE:WPC) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,922 shares of the real estate investment trust’s stock after purchasing an additional 191 shares during the quarter. SRS Capital Advisors Inc.’s holdings in W. P. Carey were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Central Bank & Trust Co. purchased a new stake in W. P. Carey during the 4th quarter worth approximately $28,000. FNY Investment Advisers LLC acquired a new stake in W. P. Carey in the fourth quarter valued at $32,000. Covestor Ltd boosted its stake in W. P. Carey by 316.5% during 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 last quarter. First Horizon Advisors Inc. acquired a new position in W. P. Carey during the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group bought a new stake in shares of W. P. Carey in the 3rd quarter worth about $46,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WPC shares. Scotiabank lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Royal Bank of Canada reduced their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating for the company. Finally, 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. Two 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 data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average target price of $63.18.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $0.76 during trading on Friday, hitting $56.68. The stock had a trading volume of 1,392,501 shares, compared to its average volume of 1,360,679. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.62. The firm has a market cap of $12.40 billion, a P/E ratio of 21.51, a PEG ratio of 0.44 and a beta of 0.86. The business has a fifty day moving average of $55.86 and a two-hundred day moving average of $58.83. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.60.

W. P. Carey (NYSE:WPC) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. W. P. Carey’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, sell-side analysts expect that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.10%. W. P. Carey’s payout ratio is 131.56%.

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.