New Wave Wealth Advisors LLC Has $255,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

New Wave Wealth Advisors LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 42.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,681 shares of the real estate investment trust’s stock after purchasing an additional 1,395 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in W. P. Carey were worth $255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keudell Morrison Wealth Management bought a new position in W. P. Carey in the fourth quarter valued at approximately $223,000. Sonora Investment Management Group LLC grew its stake in W. P. Carey by 0.3% in the fourth quarter. Sonora Investment Management Group LLC now owns 158,512 shares of the real estate investment trust’s stock valued at $8,636,000 after purchasing an additional 467 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in W. P. Carey by 4.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 18,478 shares of the real estate investment trust’s stock valued at $1,006,000 after purchasing an additional 768 shares in the last quarter. Capital Investment Advisory Services LLC grew its stake in W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 259 shares in the last quarter. Finally, Forsta AP Fonden grew its stake in W. P. Carey by 2.5% in the fourth quarter. Forsta AP Fonden now owns 91,300 shares of the real estate investment trust’s stock valued at $4,974,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WPC. Barclays restated an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank reduced their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $62.43.

W. P. Carey Stock Performance

WPC opened at $55.62 on Friday. The business has a fifty day simple moving average of $55.46 and a 200 day simple moving average of $57.80. The company has a market capitalization of $12.17 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts expect that W. P. Carey Inc. will post 4.49 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.33%. W. P. Carey’s payout ratio is currently 138.58%.

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.