FLC Capital Advisors Sells 1,045 Shares of W. P. Carey Inc. (NYSE:WPC)

FLC Capital Advisors lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,223 shares of the real estate investment trust’s stock after selling 1,045 shares during the period. FLC Capital Advisors’ holdings in W. P. Carey were worth $394,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WPC. Quarry LP raised its position in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey during the third quarter worth about $40,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of W. P. Carey by 35.9% in 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 during the period. Abich Financial Wealth Management LLC boosted its holdings in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.5 %

Shares of W. P. Carey stock opened at $55.81 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.42. The stock has a 50 day moving average price of $55.51 and a two-hundred day moving average price of $57.85. The stock has a market capitalization of $12.21 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97.

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

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is currently 138.58%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank cut their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday. Barclays reissued an “underweight” rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.43.

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.