Diversified Trust Co acquired a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,799 shares of the real estate investment trust's stock, valued at approximately $534,000.
Other large investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 172 shares during the last quarter. Kowal Investment Group LLC lifted its position in shares of W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust's stock worth $334,000 after purchasing an additional 199 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock valued at $226,000 after purchasing an additional 203 shares during the period. Creative Planning boosted its stake in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock valued at $4,031,000 after purchasing an additional 207 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of W. P. Carey by 9.5% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust's stock worth $152,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.
W. P. Carey Stock Down 1.6 %
Shares of NYSE:WPC traded down $0.85 on Friday, reaching $53.93. The company had a trading volume of 1,445,314 shares, compared to its average volume of 1,196,618. 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 firm has a market capitalization of $11.80 billion, a PE ratio of 21.23, a PEG ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The firm's 50 day simple moving average is $55.62 and its 200-day simple moving average is $57.84.
W. P. Carey (NYSE:WPC - Get Free Report) last announced its 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 6.53%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is 138.58%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on WPC shares. Barclays reissued an "underweight" rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group reduced their price objective 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 reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Friday. Finally, Evercore ISI increased their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. One 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.com, the company presently has an average rating of "Hold" and an average price target of $62.57.
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W. P. Carey Profile
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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.
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