New Wave Wealth Advisors LLC Has $255,000 Position in W. P. Carey Inc. (NYSE:WPC)

New Wave Wealth Advisors LLC boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 42.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,681 shares of the real estate investment trust’s stock after acquiring an additional 1,395 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in W. P. Carey were worth $255,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. RFG Advisory LLC raised its stake in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares in the last quarter. Equity Investment Corp grew its holdings in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey during the third quarter worth $1,692,000. Finally, abrdn plc grew its holdings in shares of W. P. Carey by 9.9% during the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after purchasing an additional 9,229 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent research reports. Scotiabank decreased their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. UBS Group decreased their price target 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. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, Barclays reiterated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $62.43.

W. P. Carey Trading Up 1.7 %

NYSE:WPC opened at $55.62 on Friday. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.99 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $55.46 and its two-hundred day moving average price is $57.80. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

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.