W. P. Carey Inc. (NYSE:WPC) Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,291 shares of the real estate investment trust’s stock after selling 223 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in W. P. Carey were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of WPC. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the 4th quarter worth about $28,000. FNY Investment Advisers LLC acquired a new position in shares of W. P. Carey during the 4th quarter worth about $32,000. Covestor Ltd raised its position in shares of W. P. Carey by 316.5% during the 3rd 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. acquired a new position in shares of W. P. Carey during the 3rd quarter worth about $45,000. Finally, Provence Wealth Management Group acquired a new position in shares of W. P. Carey during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

W. P. Carey stock opened at $54.64 on Thursday. The firm has a 50 day simple moving average of $55.87 and a 200-day simple moving average of $58.85. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $73.79. 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 stock has a market cap of $11.96 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.35%. The business had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.865 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.33%. W. P. Carey’s dividend payout ratio is 131.56%.

Analysts Set New Price Targets

WPC has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating for the company. Scotiabank reduced their price target on shares of 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. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Wells Fargo & Company cut their price objective on shares of 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. Finally, Royal Bank of Canada cut their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.36.

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.