Global Retirement Partners LLC Lowers Position in W. P. Carey Inc. (NYSE:WPC)

Global Retirement Partners LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,127 shares of the real estate investment trust’s stock after selling 2,048 shares during the quarter. Global Retirement Partners LLC’s holdings in W. P. Carey were worth $813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPC. Fairfield Bush & CO. purchased a new stake in W. P. Carey in the 1st quarter worth $26,000. Acadian Asset Management LLC purchased a new position in shares of W. P. Carey in the 1st quarter worth $26,000. Central Bank & Trust Co. bought a new stake in W. P. Carey during the fourth quarter worth approximately $28,000. Quarry LP raised its position in W. P. Carey by 438.5% during the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 342 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.8 %

NYSE:WPC opened at $56.44 on Monday. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $78.23. The firm has a 50-day simple moving average of $58.13 and a 200-day simple moving average of $59.04. The firm has a market cap of $12.34 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62.

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

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 6.13%. The ex-dividend date is Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is presently 104.85%.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Scotiabank decreased their price objective 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 W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Finally, Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $63.36.

View Our Latest Analysis on WPC

W. P. Carey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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