Client 1ST Advisory Group LLC Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

Client 1ST Advisory Group LLC acquired a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,330 shares of the real estate investment trust's stock, valued at approximately $672,000.

A number of other institutional investors also recently bought and sold shares of WPC. Geode Capital Management LLC grew its holdings in W. P. Carey by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock valued at $284,426,000 after buying an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust's stock valued at $161,894,000 after buying an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. JPMorgan Chase & Co. increased its position in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after purchasing an additional 264,230 shares during the last quarter. Finally, Equity Investment Corp raised its stake in 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 valued at $92,305,000 after purchasing an additional 9,610 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on WPC shares. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Friday, January 10th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank reduced their target price on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Thursday. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Finally, Barclays reaffirmed an "underweight" rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $62.43.

W. P. Carey Stock Up 0.5 %

Shares of NYSE:WPC traded up $0.27 on Monday, reaching $55.81. The company had a trading volume of 846,264 shares, compared to its average volume of 1,092,716. The firm has a market capitalization of $12.21 billion, a PE ratio of 21.97, a PEG ratio of 0.97 and a beta of 0.97. The firm's 50 day simple moving average is $55.51 and its 200-day simple moving average is $57.85. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.42. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the company posted $1.32 earnings per share. The business's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is presently 138.58%.

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.