W. P. Carey Inc. (NYSE:WPC) Stake Lessened by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,144 shares of the real estate investment trust’s stock after selling 782 shares during the period. Quadcap Wealth Management LLC’s holdings in W. P. Carey were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in W. P. Carey in the fourth quarter worth $139,381,000. Demars Financial Group LLC boosted its holdings in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after purchasing an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after purchasing an additional 906,622 shares during the period. Northern Trust Corp boosted its holdings in W. P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after purchasing an additional 758,627 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in W. P. Carey in the fourth quarter worth $31,442,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPC. Royal Bank of Canada boosted 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. UBS Group reduced their price target on shares of W. P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.88.

W. P. Carey Trading Up 1.0%

NYSE:WPC opened at $61.88 on Friday. 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 fifty-two week low of $52.91 and a fifty-two week high of $66.10. The stock’s 50-day moving average is $60.95 and its two-hundred day moving average is $58.38. The stock has a market cap of $13.55 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.89 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.75%. W. P. Carey’s payout ratio is 183.51%.

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.