NBC Securities Inc. Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

NBC Securities Inc. lessened its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,160 shares of the real estate investment trust’s stock after selling 439 shares during the quarter. NBC Securities Inc.’s holdings in W. P. Carey were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Raleigh Capital Management Inc. increased its holdings in shares of W. P. Carey by 3.9% in the third quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 191 shares during the period. SRS Capital Advisors Inc. increased its stake in W. P. Carey by 1.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after purchasing an additional 191 shares during the period. Gradient Capital Advisors LLC lifted its position in W. P. Carey by 0.6% in the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock valued at $2,215,000 after purchasing an additional 199 shares during the last quarter. Retirement Planning Co of New England Inc. boosted its stake in shares of W. P. Carey by 4.7% during the third quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 221 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in shares of W. P. Carey by 4.6% in the third quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 224 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

Shares of WPC opened at $58.67 on Tuesday. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock has a market cap of $12.84 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.47 and a beta of 0.86. The business’s 50 day moving average price is $56.10 and its 200-day moving average price is $59.11.

W. P. Carey (NYSE:WPCGet Free Report) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The business had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 5.90%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is 131.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Scotiabank dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Finally, Wells Fargo & Company decreased their target price on 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average target price of $63.18.

Read Our Latest Stock 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.

Further Reading

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

Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.