RB Capital Management LLC Decreases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

RB Capital Management LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,166 shares of the real estate investment trust’s stock after selling 1,536 shares during the quarter. RB Capital Management LLC’s holdings in W. P. Carey were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Central Bank & Trust Co. purchased a new position in shares of W. P. Carey in the fourth quarter worth approximately $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey in the 4th quarter worth $32,000. Covestor Ltd increased its stake in shares of W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. First Horizon Advisors Inc. bought a new position in W. P. Carey in the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group purchased a new position in W. P. Carey during the third quarter valued at $46,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WPC shares. Barclays started coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Scotiabank reduced their price objective 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. Royal Bank of Canada decreased their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Finally, StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Price Performance

Shares of WPC stock traded down $0.21 during trading hours on Wednesday, hitting $54.63. The stock had a trading volume of 1,789,470 shares, compared to its average volume of 1,350,028. The stock’s 50-day moving average price is $55.92 and its two-hundred day moving average price is $58.88. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.79. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. During the same period in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that W. P. Carey Inc. will post 4.56 EPS 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 6.33%. W. P. Carey’s payout ratio is 104.85%.

W. P. Carey Company 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.