W. P. Carey Inc. (NYSE:WPC) Shares Sold by Monument Capital Management

Monument Capital Management lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 39.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,572 shares of the real estate investment trust’s stock after selling 2,303 shares during the quarter. Monument Capital Management’s holdings in W. P. Carey were worth $232,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Daiwa Securities Group Inc. raised its holdings in W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after acquiring an additional 1,124,010 shares in the last quarter. Demars Financial Group LLC raised its holdings in W. P. Carey by 14.0% in the third quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock valued at $4,122,000 after acquiring an additional 9,334 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in W. P. Carey in the third quarter valued at approximately $613,000. Arizona State Retirement System raised its holdings in W. P. Carey by 0.8% in the fourth quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock valued at $3,811,000 after acquiring an additional 439 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in W. P. Carey by 5.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock valued at $11,852,000 after acquiring an additional 10,562 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $56.22 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a market cap of $12.30 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company’s 50 day simple moving average is $56.05 and its 200-day simple moving average is $58.80. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $74.66.

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 business had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, equities analysts predict that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The firm 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 6.15%. W. P. Carey’s dividend payout ratio (DPR) is 104.85%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WPC. Royal Bank of Canada reduced their target price on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Wells Fargo & Company cut their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. StockNews.com initiated coverage on shares of W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating on the stock. Finally, Barclays initiated coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.36.

W. P. Carey 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.