Peddock Capital Advisors LLC Decreases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Peddock Capital Advisors LLC decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,163 shares of the real estate investment trust’s stock after selling 256 shares during the period. Peddock Capital Advisors LLC’s holdings in W. P. Carey were worth $723,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WPC. Daiwa Securities Group Inc. increased its stake in shares of W. P. Carey by 130.0% during the third quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after buying an additional 1,422,490 shares during the period. International Assets Investment Management LLC raised its holdings in shares of W. P. Carey by 6,411.6% in the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock valued at $26,579,000 after purchasing an additional 403,803 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 17.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock worth $123,592,000 after purchasing an additional 334,635 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of W. P. Carey during the fourth quarter worth $17,750,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in W. P. Carey by 4,604.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 233,091 shares of the real estate investment trust’s stock valued at $12,606,000 after buying an additional 228,136 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded down $1.04 during trading hours on Wednesday, hitting $56.73. 445,566 shares of the company were exchanged, compared to its average volume of 1,352,693. The business has a 50-day moving average of $55.98 and a 200-day moving average of $58.97. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. As a group, analysts expect that W. P. Carey Inc. will post 4.53 EPS for the current fiscal 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 represents a $3.46 dividend on an annualized basis and a dividend yield of 6.10%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is 131.56%.

Analysts Set New Price Targets

A number of research firms have recently commented on WPC. Scotiabank dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Royal Bank of Canada dropped their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Wells Fargo & Company cut their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Finally, Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.