EverSource Wealth Advisors LLC Has $738,000 Position in W. P. Carey Inc. (NYSE:WPC)

EverSource Wealth Advisors LLC lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 651.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,466 shares of the real estate investment trust’s stock after buying an additional 11,674 shares during the period. EverSource Wealth Advisors LLC’s holdings in W. P. Carey were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in W. P. Carey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after acquiring an additional 187,022 shares during the last quarter. Cohen & Steers Inc. increased its position in W. P. Carey by 91.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after buying an additional 5,407,289 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of W. P. Carey by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock valued at $196,902,000 after acquiring an additional 43,959 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in W. P. Carey by 14.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock worth $170,032,000 after acquiring an additional 338,194 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WPC. Scotiabank increased their target price on shares of 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. UBS Group boosted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. reduced their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.91.

W. P. Carey Trading Down 0.1 %

NYSE:WPC traded down $0.06 on Friday, hitting $57.23. 1,576,385 shares of the stock were exchanged, compared to its average volume of 1,184,878. The stock has a market capitalization 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 debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $67.75. The company’s 50-day moving average price is $56.78 and its 200 day moving average price is $57.39.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same period in the previous year, the business posted $1.36 earnings per share. W. P. Carey’s revenue was down 13.9% compared to the same quarter last year. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 6.08%. The ex-dividend date was Friday, June 28th. W. P. Carey’s payout ratio is presently 132.32%.

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.