abrdn plc Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

abrdn plc raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,968 shares of the real estate investment trust’s stock after acquiring an additional 34,751 shares during the quarter. abrdn plc owned approximately 0.05% of W. P. Carey worth $7,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Bank & Trust Co. purchased a new position in W. P. Carey during the 4th quarter valued at about $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 holdings in shares of W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 595 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of W. P. Carey during the third quarter worth about $45,000. Finally, Provence Wealth Management Group purchased a new stake in shares of W. P. Carey during the third quarter worth about $46,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPC has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Scotiabank decreased their target price 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. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Barclays started coverage on shares of 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Stock Down 1.8 %

Shares of NYSE:WPC opened at $55.00 on Friday. The company has a fifty day simple moving average of $56.04 and a 200 day simple moving average of $58.79. The firm has a market cap of $12.04 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $74.66.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.57 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 represents a $3.46 annualized dividend and a dividend yield of 6.29%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

W. P. Carey Company 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.