Keudell Morrison Wealth Management Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

Keudell Morrison Wealth Management bought a new position in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,092 shares of the real estate investment trust’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares during the period. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares during the period. Abich Financial Wealth Management LLC lifted its stake in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 641 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 616 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.5 %

WPC stock opened at $55.96 on Friday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26. The firm has a 50 day simple moving average of $55.44 and a 200 day simple moving average of $57.79. 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 firm has a market cap of $12.25 billion, a PE ratio of 22.03, a P/E/G ratio of 0.99 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results 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 firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.49 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.29%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank cut their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, Barclays reissued an “underweight” rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $62.43.

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.