Octavia Wealth Advisors LLC Trims Stock Position in W. P. Carey Inc. (NYSE:WPC)

Octavia Wealth Advisors LLC cut its position in shares of W. P. Carey Inc. (NYSE:WPC) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,297 shares of the real estate investment trust’s stock after selling 3,661 shares during the period. Octavia Wealth Advisors LLC’s holdings in W. P. Carey were worth $348,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $26,000. Acadian Asset Management LLC purchased a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $26,000. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $28,000. Quarry LP raised its stake in shares of W. P. Carey by 438.5% in the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 342 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of W. P. Carey in the 3rd quarter valued at approximately $29,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Down 1.3 %

NYSE WPC opened at $53.31 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $74.66. The stock has a market capitalization of $11.67 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.43 and a beta of 0.86. The firm has a 50 day moving average of $56.36 and a two-hundred day moving average of $58.72.

W. P. Carey (NYSE:WPC) last posted its quarterly 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. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This represents a $3.46 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 104.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target on the stock. Scotiabank reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. 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. StockNews.com assumed coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Two equities research 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. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $63.36.

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.