Advocate Group LLC Has $5.58 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Advocate Group LLC raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,161 shares of the real estate investment trust’s stock after purchasing an additional 810 shares during the quarter. Advocate Group LLC’s holdings in W. P. Carey were worth $5,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in W. P. Carey by 3.9% during the first quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock valued at $2,209,731,000 after purchasing an additional 1,016,340 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of W. P. Carey by 1.6% in the 2nd quarter. BlackRock Inc. now owns 15,618,194 shares of the real estate investment trust’s stock worth $1,055,165,000 after acquiring an additional 244,527 shares in the last quarter. State Street Corp boosted its holdings in shares of W. P. Carey by 2.1% in the 1st quarter. State Street Corp now owns 10,228,412 shares of the real estate investment trust’s stock worth $802,831,000 after acquiring an additional 208,561 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of W. P. Carey by 46.1% in the 1st quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after acquiring an additional 2,068,458 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in shares of W. P. Carey by 104,493.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock worth $360,716,000 after acquiring an additional 4,611,275 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on WPC. Royal Bank of Canada reduced their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Barclays assumed coverage on W. P. Carey in a report on Wednesday. They issued an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. StockNews.com assumed coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Finally, Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Trading Up 0.8 %

Shares of W. P. Carey stock traded up $0.47 on Friday, hitting $56.44. 1,227,874 shares of the company’s stock traded hands, compared to its average volume of 1,505,469. The firm’s 50-day moving average price is $58.13 and its two-hundred day moving average price is $59.10. The stock has a market capitalization of $12.34 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $78.23. 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 earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. On average, research analysts expect that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.13%. W. P. Carey’s payout ratio is presently 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.