W. P. Carey Inc. (NYSE:WPC) Shares Sold by Concord Wealth Partners

Concord Wealth Partners trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 10.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,166 shares of the real estate investment trust’s stock after selling 266 shares during the period. Concord Wealth Partners’ holdings in W. P. Carey were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Equity Investment Corp purchased a new stake in shares of W. P. Carey in the first quarter valued at approximately $59,802,000. Massachusetts Financial Services Co. MA grew its holdings in W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after buying an additional 588,636 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after acquiring an additional 444,785 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after acquiring an additional 400,782 shares during the period. Finally, PGGM Investments boosted its position in shares of W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after acquiring an additional 389,853 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WPC. JPMorgan Chase & Co. cut their price objective on shares of 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. UBS Group lifted their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada cut their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Barclays increased their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and an average target price of $63.25.

Insider Buying and Selling at W. P. Carey

In other news, Director Mark A. Alexander acquired 3,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.08% of the company’s stock.

W. P. Carey Trading Up 0.3 %

Shares of WPC stock opened at $57.48 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. W. P. Carey Inc. has a fifty-two week low of $51.60 and a fifty-two week high of $67.40. The stock has a market capitalization of $12.58 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The company has a 50 day moving average price of $60.69 and a 200 day moving average price of $58.18.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same period in the previous year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities research analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 133.08%.

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.