W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,032 shares of the real estate investment trust’s stock after buying an additional 475 shares during the quarter. Sheets Smith Wealth Management’s holdings in W. P. Carey were worth $5,446,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of W. P. Carey by 1.3% during the third quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock worth $153,352,000 after buying an additional 37,055 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of W. P. Carey by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,337,056 shares of the real estate investment trust’s stock valued at $126,388,000 after buying an additional 12,982 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of W. P. Carey by 17.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock valued at $123,592,000 after buying an additional 334,635 shares during the period. Finally, PGGM Investments boosted its position in W. P. Carey by 7.3% during the third quarter. PGGM Investments now owns 2,108,963 shares of the real estate investment trust’s stock worth $114,053,000 after acquiring an additional 142,649 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.4 %

Shares of NYSE:WPC traded up $0.76 during mid-day trading on Friday, hitting $56.68. 1,392,562 shares of the company traded hands, compared to its average volume of 1,164,508. The firm has a market cap of $12.40 billion, a P/E ratio of 21.55, a PEG ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.60. The firm’s 50 day simple moving average is $55.87 and its 200 day simple moving average is $58.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.62 and a current ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (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 net margin of 33.65% and a return on equity of 6.41%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is 131.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Scotiabank cut 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. Wells Fargo & Company dropped their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada reduced their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.18.

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.