Perigon Wealth Management LLC Sells 4,601 Shares of W. P. Carey Inc. (NYSE:WPC)

Perigon Wealth Management LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 36.3% during the fourth quarter, HoldingsChannel reports. The firm owned 8,078 shares of the real estate investment trust’s stock after selling 4,601 shares during the quarter. Perigon Wealth Management LLC’s holdings in W. P. Carey were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WPC. Moneta Group Investment Advisors LLC lifted its holdings in shares of W. P. Carey by 104,493.0% during the 4th 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. Norges Bank acquired a new position in shares of W. P. Carey in the fourth quarter valued at approximately $174,406,000. JPMorgan Chase & Co. increased its position in shares of W. P. Carey by 46.1% during 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. Daiwa Securities Group Inc. lifted its position in W. P. Carey by 130.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock valued at $136,117,000 after acquiring an additional 1,422,490 shares in the last quarter. Finally, State Street Corp lifted its position in W. P. Carey by 17.1% in the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock valued at $783,467,000 after acquiring an additional 1,400,997 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WPC. Royal Bank of Canada reduced their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Wells Fargo & Company cut their price objective 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. Barclays began coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target on the stock. Scotiabank lowered their target price 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, Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. 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 stock. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Trading Down 1.7 %

WPC opened at $54.02 on Tuesday. The company’s 50 day moving average price is $56.51 and its two-hundred day moving average price is $58.73. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 16.37, a PEG 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 $74.66. 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 (NYSE:WPC) last announced 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. 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 return on equity of 7.78% and a net margin of 40.68%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. As a group, research analysts predict 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 was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This is a positive change 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 annualized dividend and a yield of 6.41%. 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.