TruWealth Advisors LLC Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

TruWealth Advisors LLC lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,277 shares of the real estate investment trust’s stock after buying an additional 2,699 shares during the quarter. TruWealth Advisors LLC’s holdings in W. P. Carey were worth $13,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its holdings in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Maia Wealth LLC purchased a new position in shares of W. P. Carey in the 3rd quarter worth about $40,000. Massmutual Trust Co. FSB ADV raised its position in shares of W. P. Carey by 35.9% in the 3rd 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% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC increased its stake 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 in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of WPC opened at $55.81 on Friday. The firm has a market capitalization of $12.21 billion, a P/E ratio of 21.97, a PEG ratio of 0.97 and a beta of 0.97. 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 Inc. has a one year low of $52.91 and a one year high of $66.42. The business has a fifty day moving average of $55.51 and a 200 day moving average of $57.82.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results 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 net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.31%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Analysts Set New Price Targets

Several brokerages have recently issued reports 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 on the stock in a research note on Thursday, November 14th. Scotiabank lowered their price objective on 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 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target 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.