Ancora Advisors LLC Decreases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Ancora Advisors LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 30.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 743 shares of the real estate investment trust’s stock after selling 321 shares during the period. Ancora Advisors LLC’s holdings in W. P. Carey were worth $40,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DF Dent & Co. Inc. lifted its holdings in W. P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 183 shares during the period. HighTower Advisors LLC lifted its stake in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after purchasing an additional 193 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in shares of W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 259 shares during the last quarter. Empowered Funds LLC grew its position in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 271 shares during the period. Finally, Cooper Financial Group increased its holdings in W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

WPC stock opened at $61.58 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The business has a 50 day simple moving average of $61.43 and a two-hundred day simple moving average of $58.24. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. W. P. Carey’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. Research analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.89 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date was Monday, March 31st. W. P. Carey’s payout ratio is currently 183.51%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WPC shares. Wells Fargo & Company boosted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lifted their price target on shares of W. P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three 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 $108.50.

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.