Larson Financial Group LLC Buys 257 Shares of W. P. Carey Inc. (NYSE:WPC)

Larson Financial Group LLC increased its stake in W. P. Carey Inc. (NYSE:WPC) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,213 shares of the real estate investment trust’s stock after purchasing an additional 257 shares during the quarter. Larson Financial Group LLC’s holdings in W. P. Carey were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Central Bank & Trust Co. bought a new stake in shares of W. P. Carey in the fourth quarter worth about $28,000. FNY Investment Advisers LLC bought a new stake in shares of W. P. Carey in the fourth quarter worth about $32,000. Covestor Ltd increased its holdings in shares of W. P. Carey by 316.5% in the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares during the last quarter. First Horizon Advisors Inc. bought a new stake in shares of W. P. Carey in the third quarter worth about $45,000. Finally, Provence Wealth Management Group bought a new stake in shares of W. P. Carey in the third quarter worth about $46,000. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WPC. Scotiabank dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. StockNews.com started coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Finally, Barclays began coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.36.

W. P. Carey Stock Performance

Shares of WPC stock opened at $56.30 on Wednesday. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The business has a fifty day moving average of $56.05 and a 200 day moving average of $58.80. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $74.66.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. As a group, research analysts expect that W. P. Carey Inc. will post 4.57 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.865 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is currently 104.85%.

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.