Planned Solutions Inc. Purchases New Position in W. P. Carey Inc. (NYSE:WPC)

Planned Solutions Inc. purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,543 shares of the real estate investment trust’s stock, valued at approximately $100,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of W. P. Carey by 3.9% in the first quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock valued at $2,209,731,000 after acquiring an additional 1,016,340 shares during the period. BlackRock Inc. lifted its position in W. P. Carey by 1.6% during the second quarter. BlackRock Inc. now owns 15,618,194 shares of the real estate investment trust’s stock valued at $1,055,165,000 after purchasing an additional 244,527 shares during the last quarter. State Street Corp raised its position in shares of W. P. Carey by 2.1% during the 1st quarter. State Street Corp now owns 10,228,412 shares of the real estate investment trust’s stock valued at $802,831,000 after buying an additional 208,561 shares in the last quarter. JPMorgan Chase & Co. grew its position in W. P. Carey by 46.1% in the first quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after acquiring an additional 2,068,458 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in W. P. Carey by 104,493.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock valued at $360,716,000 after purchasing an additional 4,611,275 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. StockNews.com began coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Scotiabank dropped their target price 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. Wells Fargo & Company reduced their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, Barclays started coverage on W. P. Carey in a research report on Wednesday. They set an “equal weight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Trading Up 0.7 %

Shares of NYSE:WPC opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $78.23. The company has a market cap of $12.24 billion, a P/E ratio of 16.96, a PEG ratio of 0.44 and a beta of 0.86. The stock’s fifty day moving average price is $58.49 and its 200-day moving average price is $59.17.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.57 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.865 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.18%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is presently 104.24%.

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.