Gateway Investment Advisers LLC Sells 15,411 Shares of W. P. Carey Inc. (NYSE:WPC)

Gateway Investment Advisers LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,247 shares of the real estate investment trust’s stock after selling 15,411 shares during the period. Gateway Investment Advisers LLC’s holdings in W. P. Carey were worth $3,609,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in W. P. Carey by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock valued at $3,512,000 after buying an additional 4,766 shares in the last quarter. Federated Hermes Inc. grew its stake in W. P. Carey by 18.5% during the second quarter. Federated Hermes Inc. now owns 25,543 shares of the real estate investment trust’s stock valued at $1,406,000 after acquiring an additional 3,987 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after acquiring an additional 204,064 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in W. P. Carey by 8.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 100,505 shares of the real estate investment trust’s stock worth $5,533,000 after purchasing an additional 8,048 shares in the last quarter. Finally, Tredje AP fonden purchased a new position in shares of W. P. Carey during the 2nd quarter valued at $1,870,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 0.5 %

NYSE WPC opened at $55.81 on Friday. The business’s fifty day simple moving average is $55.51 and its 200-day simple moving average is $57.81. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.21 billion, a PE ratio of 21.97, a P/E/G ratio of 0.97 and a beta of 0.97. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.42.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.31%. W. P. Carey’s payout ratio is currently 138.58%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WPC. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Barclays reaffirmed an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Scotiabank reduced their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday. UBS Group cut their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $62.43.

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.