B. Riley Wealth Advisors Inc. Sells 1,594 Shares of W. P. Carey Inc. (NYSE:WPC)

B. Riley Wealth Advisors Inc. reduced its position in W. P. Carey Inc. (NYSE:WPC) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,850 shares of the real estate investment trust’s stock after selling 1,594 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in W. P. Carey were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WPC. Allspring Global Investments Holdings LLC grew its stake in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the period. Quarry LP boosted its stake in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Maia Wealth LLC bought a new stake in W. P. Carey in the third quarter valued at $40,000. Ridgewood Investments LLC bought a new stake in W. P. Carey in the second quarter valued at $41,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.5 %

NYSE WPC opened at $54.25 on Friday. The stock has a market capitalization of $11.87 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $56.78 and a 200-day moving average of $57.97.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.49%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s payout ratio is 138.58%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WPC. Evercore ISI upped their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Monday, December 16th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Barclays reiterated an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average price target of $63.25.

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.