FLC Capital Advisors Sells 2,882 Shares of W. P. Carey Inc. (NYSE:WPC)

FLC Capital Advisors lowered its position in W. P. Carey Inc. (NYSE:WPC) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,550 shares of the real estate investment trust’s stock after selling 2,882 shares during the quarter. FLC Capital Advisors’ holdings in W. P. Carey were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of WPC. Fairfield Bush & CO. bought a new stake in shares of W. P. Carey in the first quarter worth $26,000. American Century Companies Inc. bought a new stake in shares of W. P. Carey in the first quarter worth $488,000. Natixis Advisors L.P. bought a new stake in shares of W. P. Carey in the first quarter worth $1,016,000. Acadian Asset Management LLC bought a new stake in W. P. Carey during the first quarter valued at about $26,000. Finally, MetLife Investment Management LLC bought a new stake in W. P. Carey during the first quarter valued at about $305,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.7 %

WPC traded up $0.37 during trading on Wednesday, hitting $55.98. 1,083,921 shares of the stock were exchanged, compared to its average volume of 1,461,330. The firm has a 50 day simple moving average of $58.49 and a 200 day simple moving average of $59.17. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $78.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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 company 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%. W. P. Carey’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. As a group, equities analysts expect that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.865 dividend. The ex-dividend date is Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.18%. W. P. Carey’s dividend payout ratio (DPR) is currently 104.24%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WPC shares. Wells Fargo & Company cut their price target 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. Royal Bank of Canada cut their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Scotiabank cut their price target 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. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, StockNews.com initiated coverage on W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.36.

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.