Cornerstone Wealth Management LLC Has $1.31 Million Position in W. P. Carey Inc. (NYSE:WPC)

Cornerstone Wealth Management LLC boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,037 shares of the real estate investment trust’s stock after purchasing an additional 1,104 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in W. P. Carey were worth $1,310,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WPC. Quarry LP raised its stake in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at $40,000. Massmutual Trust Co. FSB ADV increased its stake in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in shares of W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays restated an “underweight” rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Scotiabank decreased their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Price Performance

Shares of WPC stock opened at $55.24 on Friday. The stock has a 50-day moving average price of $55.53 and a 200 day moving average price of $57.82. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.00 and a beta of 0.97. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.81.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Research analysts expect that W. P. Carey Inc. will post 4.49 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

About W. P. Carey

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.