W. P. Carey Inc. (NYSE:WPC) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,037 shares of the real estate investment trust’s stock after acquiring an additional 1,104 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in W. P. Carey were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of WPC. Equity Investment Corp raised its holdings in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares during the period. SG Americas Securities LLC raised its holdings in W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after buying an additional 46,181 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in W. P. Carey during the 3rd quarter worth about $1,692,000. abrdn plc raised its holdings in W. P. Carey by 9.9% during the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after buying an additional 9,229 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in W. P. Carey by 82.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 146,900 shares of the real estate investment trust’s stock worth $9,152,000 after buying an additional 66,577 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.8 %

Shares of NYSE WPC opened at $55.24 on Friday. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.00 and a beta of 0.97. The business has a 50 day simple moving average of $55.53 and a 200 day simple moving average of $57.82. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. On average, research analysts predict that W. P. Carey Inc. will post 4.49 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.37%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Scotiabank dropped their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Barclays reiterated an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.43.

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.