Herold Advisors Inc. Has $585,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Herold Advisors Inc. cut its position in W. P. Carey Inc. (NYSE:WPC) by 68.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,018 shares of the real estate investment trust’s stock after selling 19,219 shares during the quarter. Herold Advisors Inc.’s holdings in W. P. Carey were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its position in shares of W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares in the last quarter. Legal & General Group Plc lifted its position in shares of W. P. Carey by 1.3% during the third quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock worth $153,352,000 after purchasing an additional 37,055 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of W. P. Carey by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,056 shares of the real estate investment trust’s stock worth $126,388,000 after purchasing an additional 12,982 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 17.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock worth $123,592,000 after purchasing an additional 334,635 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of W. P. Carey by 7.3% during the third quarter. PGGM Investments now owns 2,108,963 shares of the real estate investment trust’s stock worth $114,053,000 after purchasing an additional 142,649 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 1.8 %

NYSE:WPC traded down $0.98 during trading hours on Friday, hitting $55.00. The stock had a trading volume of 1,167,308 shares, compared to its average volume of 1,354,342. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $74.66. 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 company has a market cap of $12.04 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.45 and a beta of 0.86. The business’s 50 day moving average is $56.04 and its 200-day moving average is $58.79.

W. P. Carey (NYSE:WPC) last issued its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.29%. W. P. Carey’s dividend payout ratio is currently 104.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WPC. Royal Bank of Canada reduced their target price on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Scotiabank dropped their price target on shares of 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. StockNews.com initiated coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.36.

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.