Armstrong Fleming & Moore Inc Sells 651 Shares of W. P. Carey Inc. (NYSE:WPC)

Armstrong Fleming & Moore Inc lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,504 shares of the real estate investment trust’s stock after selling 651 shares during the period. W. P. Carey comprises 3.1% of Armstrong Fleming & Moore Inc’s investment portfolio, making the stock its 6th biggest position. Armstrong Fleming & Moore Inc’s holdings in W. P. Carey were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Raleigh Capital Management Inc. lifted its stake in W. P. Carey by 3.9% in the third quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 191 shares during the last quarter. Gradient Capital Advisors LLC lifted its stake in 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 valued at $2,215,000 after buying an additional 199 shares during the last quarter. Capital Planning Advisors LLC lifted its stake in W. P. Carey by 5.5% in the third quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 207 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its stake in W. P. Carey by 4.7% in the third quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 221 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in W. P. Carey by 4.6% in the third quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WPC shares. 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 report on Monday, March 4th. StockNews.com initiated coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Barclays initiated coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Royal Bank of Canada dropped their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Finally, Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.36.

W. P. Carey Price Performance

Shares of NYSE:WPC traded down $0.21 on Wednesday, hitting $54.63. The company had a trading volume of 1,789,470 shares, compared to its average volume of 1,355,221. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.79. The business has a 50 day moving average of $55.92 and a 200 day moving average of $58.88. The company has a market cap of $11.95 billion, a PE ratio of 16.39, a PEG ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same period in the prior year, the business earned $1.29 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

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

W. P. Carey 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.