EverSource Wealth Advisors LLC Acquires 11,674 Shares of W. P. Carey Inc. (NYSE:WPC)

EverSource Wealth Advisors LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 651.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,466 shares of the real estate investment trust’s stock after purchasing an additional 11,674 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in W. P. Carey were worth $738,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. First United Bank & Trust bought a new stake in shares of W. P. Carey in the 4th quarter worth about $27,000. Richardson Financial Services Inc. bought a new position in shares of W. P. Carey during the first quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of W. P. Carey in the first quarter worth approximately $28,000. YHB Investment Advisors Inc. bought a new stake in shares of W. P. Carey during the 1st quarter worth approximately $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey during the fourth quarter worth $32,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WPC shares. Royal Bank of Canada lowered their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday. Scotiabank raised their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Wells Fargo & Company lowered their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, UBS Group lifted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.91.

W. P. Carey Stock Performance

NYSE:WPC traded down $0.06 during midday trading on Friday, hitting $57.23. The company’s stock had a trading volume of 1,576,385 shares, compared to its average volume of 1,184,878. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.75. The firm’s 50 day moving average is $56.78 and its 200-day moving average is $57.39. The firm has a market cap of $12.52 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm’s revenue was down 13.9% on a year-over-year basis. During the same period last year, the business earned $1.36 earnings per share. Equities analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

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.