Jackson Wealth Management LLC Decreases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Jackson Wealth Management LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,583 shares of the real estate investment trust’s stock after selling 650 shares during the quarter. Jackson Wealth Management LLC’s holdings in W. P. Carey were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SRS Capital Advisors Inc. grew its holdings in W. P. Carey by 1.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock valued at $1,097,000 after purchasing an additional 191 shares during the period. Gradient Capital Advisors LLC boosted its holdings in shares of W. P. Carey by 0.6% in the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after acquiring an additional 199 shares during the period. Accurate Wealth Management LLC boosted its holdings in shares of W. P. Carey by 5.6% in the first quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 208 shares during the period. HB Wealth Management LLC boosted its holdings in shares of W. P. Carey by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 208 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of W. P. Carey by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 209 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Scotiabank increased their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, Wells Fargo & Company dropped their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.91.

W. P. Carey Trading Down 0.1 %

Shares of NYSE WPC traded down $0.06 during midday trading on Friday, reaching $57.23. The company had a trading volume of 1,576,385 shares, compared to its average volume of 1,184,878. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.75. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm’s fifty day moving average price is $56.78 and its 200-day moving average price is $57.39. The stock has a market cap of $12.52 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was down 13.9% on a year-over-year basis. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 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.