Farther Finance Advisors LLC Grows Position in W.P. Carey Inc. (NYSE:WPC)

Farther Finance Advisors LLC boosted its position in shares of W.P. Carey Inc. (NYSE:WPC) by 109.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,464 shares of the real estate investment trust’s stock after buying an additional 2,859 shares during the quarter. Farther Finance Advisors LLC’s holdings in W.P. Carey were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. DF Dent & Co. Inc. grew its holdings in shares of W.P. Carey by 3.5% during the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 183 shares during the period. HighTower Advisors LLC boosted its position in shares of W.P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 193 shares in the last quarter. Empowered Funds LLC grew its stake in W.P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 271 shares during the period. Concurrent Investment Advisors LLC lifted its position in W.P. Carey by 2.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 11,531 shares of the real estate investment trust’s stock valued at $628,000 after buying an additional 293 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of W.P. Carey by 5.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WPC shares. Scotiabank boosted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. BMO Capital Markets raised W.P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. UBS Group reduced their price target on W.P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company raised their price objective on shares of W.P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Finally, Evercore ISI upped their target price on shares of W.P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.40.

W.P. Carey Price Performance

NYSE WPC opened at $62.93 on Wednesday. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 6.54 and a beta of 0.80. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The business’s fifty day moving average price is $61.51 and its 200-day moving average price is $59.32.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. On average, equities analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.72%. W.P. Carey’s payout ratio is presently 183.51%.

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.