Bruce G. Allen Investments LLC Boosts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Bruce G. Allen Investments LLC grew its position in W. P. Carey Inc. (NYSE:WPC) by 24.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,471 shares of the real estate investment trust’s stock after acquiring an additional 293 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in W. P. Carey were worth $80,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the last quarter. Maia Wealth LLC purchased a new stake in W. P. Carey during the 3rd quarter valued at about $40,000. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 35.9% in 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 acquiring an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Down 1.5 %

Shares of NYSE:WPC traded down $0.80 during trading on Friday, hitting $53.98. The company’s stock had a trading volume of 1,039,502 shares, compared to its average volume of 1,107,091. The company has a market capitalization of $11.81 billion, a PE ratio of 21.25, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The business has a 50 day moving average price of $55.65 and a two-hundred day moving average price of $57.83.

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 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 firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the business earned $1.32 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. As a group, research analysts expect that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 6.52%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, December 31st. W. P. Carey’s payout ratio is 138.58%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday. UBS Group decreased 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 report on Thursday, November 14th. Barclays restated an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. 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, the company presently has an average rating of “Hold” and a consensus price target of $62.57.

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.