Teamwork Financial Advisors LLC Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Teamwork Financial Advisors LLC lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,038 shares of the real estate investment trust’s stock after selling 343 shares during the period. Teamwork Financial Advisors LLC’s holdings in W. P. Carey were worth $383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in W. P. Carey by 2.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust’s stock worth $8,131,000 after acquiring an additional 3,416 shares in the last quarter. XML Financial LLC lifted its position in shares of W. P. Carey by 4.7% during the fourth quarter. XML Financial LLC now owns 36,463 shares of the real estate investment trust’s stock worth $1,986,000 after purchasing an additional 1,646 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in shares of W. P. Carey by 22.3% in the fourth quarter. Sheets Smith Wealth Management now owns 95,648 shares of the real estate investment trust’s stock valued at $5,211,000 after purchasing an additional 17,447 shares during the period. Royal Fund Management LLC grew its holdings in W. P. Carey by 17.2% during the 4th quarter. Royal Fund Management LLC now owns 27,180 shares of the real estate investment trust’s stock valued at $1,483,000 after purchasing an additional 3,988 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in W. P. Carey by 8.5% during the 4th quarter. Ballentine Partners LLC now owns 7,131 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 559 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $55.14 on Thursday. 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 12-month low of $52.91 and a 12-month high of $65.76. The business’s fifty day moving average price is $55.54 and its 200 day moving average price is $57.85. The stock has a market capitalization of $12.07 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results 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 business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.38%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays reissued an “underweight” rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Scotiabank lowered their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. One 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.43.

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.