Jackson Wealth Management LLC Sells 650 Shares of W. P. Carey Inc. (NYSE:WPC)

Jackson Wealth Management LLC cut its position in W. P. Carey Inc. (NYSE:WPC) by 12.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,583 shares of the real estate investment trust’s stock after selling 650 shares during the period. Jackson Wealth Management LLC’s holdings in W. P. Carey were worth $252,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First United Bank & Trust purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. bought a new stake in W. P. Carey during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new stake in W. P. Carey during the first quarter valued at approximately $28,000. YHB Investment Advisors Inc. bought a new stake in W. P. Carey during the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new stake in W. P. Carey during the fourth quarter valued at approximately $32,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WPC shares. JPMorgan Chase & Co. dropped their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Scotiabank upped their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Wells Fargo & Company reduced 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. Finally, Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.91.

W. P. Carey Stock Down 0.1 %

Shares of W. P. Carey stock traded down $0.06 on Friday, reaching $57.23. 1,576,385 shares of the company were exchanged, compared to its average volume of 1,184,878. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.75. The company has a market cap of $12.52 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. The stock’s 50 day moving average price is $56.78 and its 200-day moving average price is $57.39.

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

W. P. Carey Increases Dividend

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

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.