RB Capital Management LLC Sells 1,536 Shares of W. P. Carey Inc. (NYSE:WPC)

RB Capital Management LLC decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,166 shares of the real estate investment trust’s stock after selling 1,536 shares during the period. RB Capital Management LLC’s holdings in W. P. Carey were worth $1,307,000 at the end of the most recent quarter.

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

W. P. Carey Stock Down 0.4 %

WPC traded down $0.21 during trading on Wednesday, reaching $54.63. The company had a trading volume of 1,789,470 shares, compared to its average volume of 1,350,028. The business’s fifty day moving average price is $55.92 and its 200 day moving average price is $58.88. 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 Inc. has a 12 month low of $51.36 and a 12 month high of $73.79. The company has a market cap of $11.95 billion, a P/E ratio of 16.39, a PEG ratio of 0.44 and a beta of 0.86.

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

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.33%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is 104.85%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WPC shares. Wells Fargo & Company lowered their target price on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Scotiabank dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Royal Bank of Canada decreased their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, StockNews.com began coverage on shares of W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.36.

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.