Alpha Omega Wealth Management LLC Acquires 37,435 Shares of W. P. Carey Inc. (NYSE:WPC)

Alpha Omega Wealth Management LLC lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 241.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 52,952 shares of the real estate investment trust’s stock after purchasing an additional 37,435 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in W. P. Carey were worth $2,885,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. JPMorgan Chase & Co. grew its position in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after acquiring an additional 264,230 shares during the period. Finally, Equity Investment Corp raised its stake in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on WPC shares. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank dropped their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Barclays reissued an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average price target of $62.43.

W. P. Carey Stock Up 0.5 %

NYSE WPC opened at $55.96 on Friday. The stock has a market capitalization of $12.25 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $55.44 and a 200-day moving average of $57.79.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 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 firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.49 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.29%. W. P. Carey’s dividend payout ratio is 138.58%.

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.