3,350 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,350 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Bank & Trust Co. bought a new stake in W. P. Carey in the 4th quarter worth $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $32,000. Covestor Ltd grew its stake in shares of W. P. Carey by 316.5% in the third 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. purchased a new position in W. P. Carey during the 3rd quarter valued at about $45,000. Finally, Provence Wealth Management Group bought a new position in W. P. Carey during the 3rd quarter valued at approximately $46,000. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com began coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued 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 on the stock in a research report on Monday, March 4th. Finally, Wells Fargo & Company lowered 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $55.70 on Tuesday. The business has a fifty day moving average price of $55.99 and a 200-day moving average price of $58.86. 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 company has a market capitalization of $12.19 billion, a PE ratio of 16.88, a PEG ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company 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 firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, equities analysts expect that W. P. Carey Inc. will post 4.56 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.865 dividend. This is an increase 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 dividend on an annualized basis and a yield of 6.21%. W. P. Carey’s dividend payout ratio is currently 104.85%.

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.