D.B. Root & Company LLC Decreases Stock Position in W. P. Carey Inc. (NYSE:WPC)

D.B. Root & Company LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 46.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,065 shares of the real estate investment trust’s stock after selling 3,566 shares during the period. D.B. Root & Company LLC’s holdings in W. P. Carey were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV lifted its position in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC boosted its stake in shares of W. P. Carey by 5.2% during the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the last quarter. Kowal Investment Group LLC grew its holdings in shares of W. P. Carey by 3.4% during the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares in the last quarter. Creative Planning raised its position in shares of W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of W. P. Carey by 9.5% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 212 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WPC. UBS Group lifted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. dropped their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Scotiabank lowered their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Evercore ISI increased their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Barclays boosted their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Trading Up 0.6 %

Shares of WPC stock opened at $55.73 on Friday. 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 Inc. has a fifty-two week low of $53.01 and a fifty-two week high of $67.40. The firm’s 50 day moving average price is $60.11 and its two-hundred day moving average price is $58.20. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. On average, analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

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.