WCG Wealth Advisors LLC Sells 4,629 Shares of W. P. Carey Inc. (NYSE:WPC)

WCG Wealth Advisors LLC reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 27.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,168 shares of the real estate investment trust’s stock after selling 4,629 shares during the quarter. WCG Wealth Advisors LLC’s holdings in W. P. Carey were worth $663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. National Pension Service purchased a new stake in W. P. Carey in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey during the fourth quarter valued at $37,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey in the fourth quarter worth about $37,000. Bessemer Group Inc. increased its stake in W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 402 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in W. P. Carey during the 4th quarter valued at about $44,000. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on WPC. Barclays set a $61.00 target price on shares of W. P. Carey and gave the stock an “underweight” rating in a research note on Wednesday. UBS Group dropped their price objective on W. P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company lifted their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $109.00.

W. P. Carey Stock Up 1.9%

W. P. Carey stock opened at $61.37 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.44 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.06 and a beta of 0.78. The business has a fifty day moving average of $60.83 and a two-hundred day moving average of $58.56. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10.

W. P. Carey (NYSE:WPC) last released its quarterly 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 company 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 company’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, analysts forecast that W. P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.80%. W. P. Carey’s payout ratio is currently 183.51%.

W. P. Carey 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.