W. P. Carey Inc. (NYSE:WPC) Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,085 shares of the real estate investment trust’s stock after purchasing an additional 1,057 shares during the period. Royal Fund Management LLC’s holdings in W. P. Carey were worth $848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. Daiwa Securities Group Inc. increased its position in W. P. Carey by 130.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after purchasing an additional 1,422,490 shares during the period. International Assets Investment Management LLC grew its holdings in shares of W. P. Carey by 6,411.6% in the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock worth $26,579,000 after acquiring an additional 403,803 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of W. P. Carey by 17.2% in the 3rd 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 acquiring an additional 334,635 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of W. P. Carey in the 4th quarter worth approximately $17,750,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of W. P. Carey by 4,604.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 233,091 shares of the real estate investment trust’s stock worth $12,606,000 after acquiring an additional 228,136 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.4 %

Shares of WPC traded up $0.76 during trading hours on Friday, hitting $56.68. The stock had a trading volume of 1,392,562 shares, compared to its average volume of 1,164,508. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.62 and a current ratio of 0.90. The firm has a market cap of $12.40 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.45 and a beta of 0.86. The company’s fifty day simple moving average is $55.87 and its 200 day simple moving average is $58.84. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $73.60.

W. P. Carey (NYSE:WPC) last issued 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 business had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS. Equities research analysts forecast that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.865 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is 131.56%.

Analyst Ratings Changes

A number of research firms recently weighed in on WPC. Wells Fargo & Company lowered their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Royal Bank of Canada lowered their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday. Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Finally, Scotiabank lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus price target of $63.18.

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.