Cooper Financial Group Buys 276 Shares of W. P. Carey Inc. (NYSE:WPC)

Cooper Financial Group increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,905 shares of the real estate investment trust’s stock after buying an additional 276 shares during the quarter. Cooper Financial Group’s holdings in W. P. Carey were worth $649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP boosted its holdings 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 acquiring 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 valued at about $40,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 purchasing an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WPC shares. Barclays restated an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday. Evercore ISI lifted their price target 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. Finally, UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report 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 company’s stock. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average price target of $62.57.

W. P. Carey Trading Down 0.6 %

Shares of WPC stock opened at $53.57 on Tuesday. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.04 and a beta of 0.97. The company’s fifty day simple moving average is $55.62 and its two-hundred day simple moving average is $57.86. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $67.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.57%. W. P. Carey’s dividend payout ratio is currently 138.58%.

W. P. Carey Company 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.