Capital Investment Advisory Services LLC Acquires 259 Shares of W. P. Carey Inc. (NYSE:WPC)

Capital Investment Advisory Services LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,698 shares of the real estate investment trust’s stock after buying an additional 259 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in W. P. Carey were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WPC. Quarry LP grew its position in W. P. Carey by 175.9% during the second 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 during the period. Maia Wealth LLC purchased a new position in W. P. Carey during the third quarter valued at approximately $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in W. P. Carey by 35.9% during the third 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 holdings in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in 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 purchasing an additional 616 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

W. P. Carey stock opened at $55.62 on Friday. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.00 and a beta of 0.97. The firm’s fifty day moving average is $55.46 and its 200 day moving average is $57.80. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter last year, the firm earned $1.32 EPS. The company’s revenue was down 11.9% on a year-over-year basis. Sell-side analysts forecast that W. P. Carey Inc. will post 4.49 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. 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 6.33%. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Barclays reaffirmed an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One research 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. According to MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus target price of $62.43.

About W. P. Carey

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.