Old Port Advisors Has $487,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

Old Port Advisors cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,940 shares of the real estate investment trust’s stock after selling 398 shares during the quarter. Old Port Advisors’ holdings in W. P. Carey were worth $487,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in W. P. Carey by 8.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,675 shares of the real estate investment trust’s stock valued at $533,000 after purchasing an additional 760 shares during the last quarter. Natixis Advisors LLC grew its stake in W. P. Carey by 99.3% in the second quarter. Natixis Advisors LLC now owns 30,440 shares of the real estate investment trust’s stock valued at $1,676,000 after purchasing an additional 15,169 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of W. P. Carey by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,353 shares of the real estate investment trust’s stock worth $405,000 after purchasing an additional 234 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of W. P. Carey during the 2nd quarter worth approximately $416,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.22 during trading on Thursday, reaching $54.26. 375,418 shares of the stock were exchanged, compared to its average volume of 1,213,185. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The stock has a 50-day moving average price of $55.91 and a 200-day moving average price of $57.88. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $11.87 billion, a PE ratio of 21.36, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (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 business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts expect that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.49%. W. P. Carey’s dividend payout ratio is 138.58%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WPC. Barclays reissued an “underweight” rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Monday, December 16th. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, UBS Group dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.25.

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.