Strathmore Capital Advisors Inc. Purchases Shares of 4,327 W. P. Carey Inc. (NYSE:WPC)

Strathmore Capital Advisors Inc. acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,327 shares of the real estate investment trust’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Natixis Advisors LLC grew its holdings 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 during the period. CIBC Asset Management Inc raised its position in W. P. Carey by 3.3% during the second quarter. CIBC Asset Management Inc now owns 7,353 shares of the real estate investment trust’s stock worth $405,000 after acquiring an additional 234 shares during the period. Adapt Wealth Advisors LLC acquired a new stake in W. P. Carey in the 2nd quarter worth about $218,000. Finally, Quest Partners LLC raised its stake in W. P. Carey by 128,200.0% in the 2nd quarter. Quest Partners LLC now owns 12,830 shares of the real estate investment trust’s stock valued at $706,000 after purchasing an additional 12,820 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

W. P. Carey Trading Up 0.2 %

Shares of NYSE:WPC traded up $0.13 during midday trading on Tuesday, reaching $55.06. 796,002 shares of the company’s stock were exchanged, compared to its average volume of 1,063,472. The firm’s 50 day simple moving average is $55.73 and its two-hundred day simple moving average is $57.88. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 analyst estimates 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 was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. 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 dividend on an annualized basis and a dividend yield of 6.39%. W. P. Carey’s payout ratio is currently 138.58%.

About W. P. Carey

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.