Naviter Wealth LLC Acquires 1,752 Shares of W. P. Carey Inc. (NYSE:WPC)

Naviter Wealth LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,425 shares of the real estate investment trust’s stock after buying an additional 1,752 shares during the quarter. Naviter Wealth LLC’s holdings in W. P. Carey were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Central Bank & Trust Co. bought a new position in shares of W. P. Carey in the 4th quarter worth $28,000. FNY Investment Advisers LLC bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $32,000. Covestor Ltd raised its stake in shares of W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 595 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of W. P. Carey during the 3rd quarter worth approximately $45,000. Finally, Provence Wealth Management Group purchased a new stake in W. P. Carey during the third quarter valued at approximately $46,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WPC shares. StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating on the stock. Wells Fargo & Company lowered 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. Scotiabank dropped their price target on 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. Royal Bank of Canada decreased their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $55.25 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.44 and a beta of 0.86. The firm’s 50 day simple moving average is $55.96 and its 200-day simple moving average is $58.88. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.865 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

About W. P. Carey

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.