Cetera Investment Advisers Acquires 244,699 Shares of W. P. Carey Inc. (NYSE:WPC)

Cetera Investment Advisers lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 211.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 360,336 shares of the real estate investment trust’s stock after buying an additional 244,699 shares during the quarter. Cetera Investment Advisers owned about 0.16% of W. P. Carey worth $20,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its position in W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after purchasing an additional 1,124,010 shares during the period. Norges Bank acquired a new position in W. P. Carey in the fourth quarter valued at approximately $157,107,000. Russell Investments Group Ltd. boosted its stake in W. P. Carey by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock valued at $22,810,000 after acquiring an additional 175,347 shares during the last quarter. Principal Securities Inc. acquired a new stake in W. P. Carey during the 4th quarter worth $951,000. Finally, M&T Bank Corp raised its position in shares of W. P. Carey by 2.7% during the 4th quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock valued at $2,024,000 after acquiring an additional 825 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Scotiabank lifted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.91.

W. P. Carey Stock Down 0.1 %

Shares of NYSE:WPC traded down $0.06 during trading on Friday, hitting $57.23. 1,576,385 shares of the company were exchanged, compared to its average volume of 1,184,878. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.75. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average price of $56.78 and a two-hundred day moving average price of $57.46.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue was down 13.9% on a year-over-year basis. During the same period last year, the business earned $1.36 EPS. As a group, research analysts anticipate that W. P. Carey Inc. will post 4.53 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, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.08%. W. P. Carey’s payout ratio is presently 132.32%.

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.