W. P. Carey Inc. (NYSE:WPC) Shares Sold by MKT Advisors LLC

MKT Advisors LLC lowered its holdings in W. P. Carey Inc. (NYSE:WPC) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,144 shares of the real estate investment trust’s stock after selling 1,377 shares during the period. MKT Advisors LLC’s holdings in W. P. Carey were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WPC. Quarry LP increased its holdings in 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 in the last quarter. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $40,000. Massmutual Trust Co. FSB ADV raised 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 during the period. Abich Financial Wealth Management LLC lifted its position in W. P. Carey by 2,374.1% during 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 boosted its holdings in 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. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.8 %

NYSE:WPC opened at $55.24 on Friday. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.81. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $12.09 billion, a PE ratio of 21.75, a P/E/G ratio of 1.00 and a beta of 0.97. The business’s 50 day moving average is $55.53 and its two-hundred day moving average is $57.85.

W. P. Carey (NYSE:WPC) last issued its earnings results 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 return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts predict that W. P. Carey Inc. will post 4.49 EPS 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 $0.88 dividend. This is an increase 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 6.37%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

Analyst Ratings Changes

A number of research analysts have recently commented on WPC shares. UBS Group reduced 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 research report on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank dropped their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Barclays reiterated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey currently has a consensus 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.