Ballentine Partners LLC Increases Stake in W. P. Carey Inc. (NYSE:WPC)

Ballentine Partners LLC boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,131 shares of the real estate investment trust’s stock after buying an additional 559 shares during the period. Ballentine Partners LLC’s holdings in W. P. Carey were worth $388,000 at the end of the most recent reporting period.

Other large investors have also 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 valued at $31,000 after purchasing an additional 357 shares during the period. Maia Wealth LLC purchased a new position in W. P. Carey during the third quarter valued at $40,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of 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 buying an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased 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 in the last quarter. Finally, Fortitude Family Office LLC lifted its position in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 616 shares during the period. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Barclays reaffirmed an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Trading Down 0.6 %

Shares of NYSE:WPC opened at $54.83 on Friday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $65.76. The stock’s fifty day moving average price is $55.54 and its 200-day moving average price is $57.82. The company has a market cap of $12.00 billion, a P/E ratio of 21.59, a PEG ratio of 1.03 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.

W. P. Carey (NYSE:WPC) last announced 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 company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the business earned $1.32 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. Sell-side analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.42%. W. P. Carey’s payout ratio is currently 138.58%.

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.