Monument Capital Management Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Monument Capital Management reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 39.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,572 shares of the real estate investment trust’s stock after selling 2,303 shares during the period. Monument Capital Management’s holdings in W. P. Carey were worth $232,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Handelsbanken Fonder AB lifted its holdings in shares of W. P. Carey by 5.2% during the 4th quarter. Handelsbanken Fonder AB now owns 139,094 shares of the real estate investment trust’s stock worth $9,015,000 after acquiring an additional 6,921 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in W. P. Carey by 2.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,903 shares of the real estate investment trust’s stock worth $3,623,000 after purchasing an additional 1,129 shares in the last quarter. Gradient Capital Advisors LLC increased its position in W. P. Carey by 0.6% during the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 199 shares in the last quarter. Signaturefd LLC increased its position in W. P. Carey by 65.3% during the 4th quarter. Signaturefd LLC now owns 7,341 shares of the real estate investment trust’s stock worth $476,000 after purchasing an additional 2,899 shares in the last quarter. Finally, abrdn plc increased its position in W. P. Carey by 41.3% during the 4th quarter. abrdn plc now owns 118,968 shares of the real estate investment trust’s stock worth $7,710,000 after purchasing an additional 34,751 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WPC. Scotiabank dropped their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Wells Fargo & Company dropped their target price on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada dropped their target price on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, StockNews.com initiated coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.36.

W. P. Carey Stock Up 0.0 %

Shares of NYSE:WPC opened at $56.22 on Tuesday. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $56.05 and a two-hundred day moving average of $58.80. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $74.66.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. As a group, analysts forecast that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is 104.85%.

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.