Ignite Planners LLC Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

Ignite Planners LLC decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,421 shares of the real estate investment trust’s stock after selling 312 shares during the period. Ignite Planners LLC’s holdings in W. P. Carey were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Signet Financial Management LLC bought a new stake in shares of W. P. Carey during the 4th quarter valued at $1,942,000. Cooper Financial Group grew its position in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 276 shares during the period. Adams Asset Advisors LLC grew its position in shares of W. P. Carey by 38.4% during the 4th quarter. Adams Asset Advisors LLC now owns 59,666 shares of the real estate investment trust’s stock valued at $3,251,000 after acquiring an additional 16,540 shares during the period. Fiduciary Alliance LLC bought a new stake in shares of W. P. Carey during the 4th quarter valued at $1,418,000. Finally, Bruce G. Allen Investments LLC grew its position in shares of W. P. Carey by 24.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 1,471 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 293 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.4 %

WPC opened at $54.26 on Wednesday. The firm has a 50-day simple moving average of $55.59 and a two-hundred day simple moving average of $57.84. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $67.17. The company has a market capitalization of $11.87 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts forecast 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 will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 138.58%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WPC. UBS Group dropped their target price 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 reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Barclays reaffirmed an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.57.

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.