W. P. Carey Inc. (NYSE:WPC) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,677 shares of the real estate investment trust’s stock after buying an additional 858 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in W. P. Carey were worth $1,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. O Shaughnessy Asset Management LLC raised its stake in shares of W. P. Carey by 9.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,183 shares of the real estate investment trust’s stock worth $1,139,000 after buying an additional 1,753 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares during the last quarter. EP Wealth Advisors LLC raised its stake in W. P. Carey by 8.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,474 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 426 shares during the last quarter. 1832 Asset Management L.P. raised its stake in W. P. Carey by 12.9% in the 1st quarter. 1832 Asset Management L.P. now owns 30,434 shares of the real estate investment trust’s stock valued at $1,718,000 after purchasing an additional 3,485 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in W. P. Carey in the 1st quarter valued at about $1,154,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on WPC shares. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Evercore ISI boosted their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

WPC stock opened at $56.61 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.39 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.04 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The stock’s 50 day simple moving average is $59.18 and its 200 day simple moving average is $58.22.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the business earned $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% on a year-over-year basis. As a group, equities research analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.18%. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.