Adams Asset Advisors LLC Raises Stake in W. P. Carey Inc. (NYSE:WPC)

Adams Asset Advisors LLC boosted its holdings in W. P. Carey Inc. (NYSE:WPC) by 38.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 59,666 shares of the real estate investment trust’s stock after acquiring an additional 16,540 shares during the quarter. Adams Asset Advisors LLC’s holdings in W. P. Carey were worth $3,251,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WPC. Quarry LP increased its position in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Maia Wealth LLC purchased a new stake in W. P. Carey during the 3rd quarter valued at about $40,000. Massmutual Trust Co. FSB ADV increased its stake in 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 valued at $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WPC shares. Barclays reaffirmed 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. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday. UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.57.

W. P. Carey Stock Performance

Shares of WPC traded down $0.67 on Monday, reaching $53.21. The company’s stock had a trading volume of 524,573 shares, compared to its average volume of 1,096,055. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $67.17. The stock has a market capitalization of $11.64 billion, a P/E ratio of 20.95, a PEG ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $55.62 and its two-hundred day simple moving average is $57.86.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data 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 net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm earned $1.32 EPS. The company’s revenue was down 11.9% on a year-over-year basis. Research analysts forecast 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 will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

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.