Seneca House Advisors Sells 2,410 Shares of W. P. Carey Inc. (NYSE:WPC)

Seneca House Advisors decreased its position in W. P. Carey Inc. (NYSE:WPC) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,719 shares of the real estate investment trust’s stock after selling 2,410 shares during the quarter. W. P. Carey accounts for 2.4% of Seneca House Advisors’ portfolio, making the stock its 16th largest position. Seneca House Advisors owned about 0.05% of W. P. Carey worth $6,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WPC. Quarry LP boosted its holdings in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares in the last quarter. Maia Wealth LLC bought a new stake in shares of W. P. Carey during the 3rd quarter valued at about $40,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 616 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

W. P. Carey stock opened at $54.83 on Friday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $65.76. 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 50-day moving average price of $55.54 and a 200-day moving average price of $57.82. The firm has a market capitalization of $12.00 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the business earned $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.42%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their target price 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. Barclays restated an “underweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus target price of $62.43.

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.