LRI Investments LLC Has $812,000 Stake in W. P. Carey Inc. (NYSE:WPC)

LRI Investments LLC reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 23.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,911 shares of the real estate investment trust’s stock after selling 4,603 shares during the quarter. LRI Investments LLC’s holdings in W. P. Carey were worth $812,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of W. P. Carey during the fourth quarter worth $139,381,000. Demars Financial Group LLC grew its stake in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after purchasing an additional 906,622 shares during the last quarter. Northern Trust Corp raised its stake in shares of W. P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of W. P. Carey during the 4th quarter worth about $31,442,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 1.7%

NYSE:WPC opened at $61.79 on Monday. The company’s 50 day moving average is $61.29 and its 200-day moving average is $58.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. Equities analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.89 dividend. The ex-dividend date was Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.76%. W. P. Carey’s payout ratio is presently 183.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WPC. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Evercore ISI lifted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.50.

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.