GAMMA Investing LLC Buys Shares of 1,013 W. P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC purchased a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,013 shares of the real estate investment trust’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Bank & Trust Co. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $28,000. FNY Investment Advisers LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $32,000. Covestor Ltd grew its stake in W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares during the period. First Horizon Advisors Inc. acquired a new stake in W. P. Carey during the third quarter worth approximately $45,000. Finally, Provence Wealth Management Group acquired a new stake in W. P. Carey during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.4 %

Shares of W. P. Carey stock opened at $54.64 on Thursday. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.79. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50 day moving average price of $55.92 and a two-hundred day moving average price of $58.88. The stock has a market capitalization of $11.96 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same quarter last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio (DPR) is currently 104.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Wells Fargo & Company decreased their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Royal Bank of Canada decreased their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Scotiabank decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Finally, StockNews.com began coverage on W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.36.

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.