Peddock Capital Advisors LLC Lowers Stock Position in W. P. Carey Inc. (NYSE:WPC)

Peddock Capital Advisors LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,163 shares of the real estate investment trust’s stock after selling 256 shares during the period. Peddock Capital Advisors LLC’s holdings in W. P. Carey were worth $723,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WPC. Raleigh Capital Management Inc. lifted its holdings in W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 191 shares during the period. SRS Capital Advisors Inc. lifted its holdings in W. P. Carey by 1.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 191 shares during the period. Gradient Capital Advisors LLC boosted 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 valued at $2,215,000 after acquiring an additional 199 shares in the last quarter. Capital Planning Advisors LLC raised its position in shares of W. P. Carey by 5.5% in the 3rd quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 207 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. grew its stake in W. P. Carey by 4.7% in the third quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 221 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Wells Fargo & Company cut their price target on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Barclays initiated coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average target price of $63.18.

W. P. Carey Stock Performance

Shares of NYSE WPC traded down $1.04 during trading on Wednesday, hitting $56.73. The company had a trading volume of 445,566 shares, compared to its average volume of 1,352,693. The stock has a 50 day simple moving average of $55.98 and a 200 day simple moving average of $58.97. The firm has a market capitalization of $12.41 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $73.38.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The firm had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same period in the prior year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current 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 issued a $0.865 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.10%. W. P. Carey’s payout ratio is 131.56%.

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.