Financial Management Professionals Inc. Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Financial Management Professionals Inc. lessened its position in W. P. Carey Inc. (NYSE:WPC) by 42.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 696 shares of the real estate investment trust’s stock after selling 510 shares during the period. Financial Management Professionals Inc.’s holdings in W. P. Carey were worth $38,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its position in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the period. Maia Wealth LLC purchased a new position in W. P. Carey in the third quarter worth $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares during the period. Abich Financial Wealth Management LLC boosted its position in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.81 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.42. The company has a 50 day moving average price of $55.51 and a 200 day moving average price of $57.85.

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 analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. Sell-side analysts anticipate 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. Investors of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.31%. W. P. Carey’s payout ratio is presently 138.58%.

Analysts Set New Price Targets

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

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.