DAVENPORT & Co LLC Lowers Position in W. P. Carey Inc. (NYSE:WPC)

DAVENPORT & Co LLC lowered its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,210 shares of the real estate investment trust’s stock after selling 6,030 shares during the period. DAVENPORT & Co LLC owned approximately 0.07% of W. P. Carey worth $9,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Demars Financial Group LLC raised its holdings in shares of W. P. Carey by 14.0% during the 3rd quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock valued at $4,122,000 after buying an additional 9,334 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of W. P. Carey by 720.1% during the 2nd quarter. Marshall Wace LLP now owns 615,393 shares of the real estate investment trust’s stock valued at $41,576,000 after buying an additional 540,357 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of W. P. Carey during the 3rd quarter valued at about $613,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of W. P. Carey by 5.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock valued at $11,852,000 after buying an additional 10,562 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. purchased a new position in shares of W. P. Carey during the 3rd quarter valued at about $2,267,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC stock opened at $54.95 on Thursday. The firm has a market cap of $12.02 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $76.32. The business’s 50 day moving average price is $57.59 and its 200-day moving average price is $58.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62.

W. P. Carey (NYSE:WPCGet Free Report) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same period last year, the company earned $1.29 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $0.865 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.30%. W. P. Carey’s payout ratio is currently 104.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WPC. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Barclays initiated coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Wells Fargo & Company reduced their price target on 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. Scotiabank reduced their price target on 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, StockNews.com initiated coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average price target of $63.36.

View Our Latest Analysis on WPC

W. P. Carey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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