Barclays PLC Sells 332,352 Shares of W. P. Carey Inc. (NYSE:WPC)

Barclays PLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 48.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 353,908 shares of the real estate investment trust’s stock after selling 332,352 shares during the period. Barclays PLC’s holdings in W. P. Carey were worth $22,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its holdings in W. P. Carey by 2.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 342,773 shares of the real estate investment trust’s stock worth $21,355,000 after purchasing an additional 8,277 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of W. P. Carey by 7.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 17,699 shares of the real estate investment trust’s stock worth $1,103,000 after acquiring an additional 1,169 shares during the last quarter. XTX Topco Ltd boosted its position in shares of W. P. Carey by 256.1% during the third quarter. XTX Topco Ltd now owns 24,729 shares of the real estate investment trust’s stock worth $1,541,000 after acquiring an additional 17,784 shares during the last quarter. Zacks Investment Management grew its stake in W. P. Carey by 10.6% during the third quarter. Zacks Investment Management now owns 613,806 shares of the real estate investment trust’s stock valued at $38,240,000 after acquiring an additional 59,075 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in W. P. Carey by 63.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 8,549 shares of the real estate investment trust’s stock valued at $533,000 after acquiring an additional 3,329 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

NYSE WPC opened at $57.02 on Friday. The company has a market cap of $12.48 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.04 and a beta of 0.96. The business’s 50 day moving average price is $57.15 and its 200-day moving average price is $58.01. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the prior year, the company posted $1.32 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 138.58%.

Analyst Ratings Changes

WPC has been the subject of several research reports. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.88.

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.