MKT Advisors LLC Lowers Position in W. P. Carey Inc. (NYSE:WPC)

MKT Advisors LLC reduced its position in shares of W. P. Carey Inc. (NYSE:WPC) by 16.2% in the 4th quarter, according to its most recent disclosure 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Applied Capital LLC FL lifted its holdings in shares of W. P. Carey by 24.7% in the 4th quarter. Applied Capital LLC FL now owns 5,228 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 1,037 shares during the period. Impact Partnership Wealth LLC raised its position in W. P. Carey by 3.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after acquiring an additional 289 shares in the last quarter. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of W. P. Carey by 4.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 24,037 shares of the real estate investment trust’s stock worth $1,310,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of W. P. Carey by 2.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust’s stock worth $8,131,000 after purchasing an additional 3,416 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of several recent analyst reports. Barclays reiterated an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Scotiabank dropped 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 note on Thursday, January 16th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Stock Up 0.8 %

Shares of NYSE:WPC opened at $55.24 on Friday. The company has a market capitalization of $12.09 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.00 and a beta of 0.97. The stock’s fifty day simple moving average is $55.53 and its 200-day simple moving average is $57.85. 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.

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 the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 earnings per share. As a group, 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 firm also recently declared 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.37%. 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. W. P. Carey’s dividend 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.