Barlow Wealth Partners Inc. Acquires New Shares in W. P. Carey Inc. (NYSE:WPC)

Barlow Wealth Partners Inc. bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,049 shares of the real estate investment trust’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Bank & Trust Co. bought a new position in shares of W. P. Carey during the fourth quarter valued at approximately $28,000. FNY Investment Advisers LLC purchased a new position in shares of W. P. Carey in the 4th quarter valued at $32,000. Covestor Ltd raised its position 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 acquiring an additional 595 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of W. P. Carey in the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group purchased a new stake in shares of W. P. Carey during the 3rd quarter worth $46,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC stock traded up $0.14 during mid-day trading on Tuesday, hitting $57.77. 1,485,888 shares of the stock were exchanged, compared to its average volume of 1,363,409. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.60. The firm has a fifty day moving average of $55.93 and a 200 day moving average of $58.93. The company has a market cap of $12.64 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Research analysts anticipate that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.865 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 5.99%. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Royal Bank of Canada decreased their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday. Scotiabank dropped their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Finally, 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 target for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average target price of $63.18.

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.