Beacon Pointe Advisors LLC Sells 9,121 Shares of W. P. Carey Inc. (NYSE:WPC)

Beacon Pointe Advisors LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,692 shares of the real estate investment trust's stock after selling 9,121 shares during the quarter. Beacon Pointe Advisors LLC's holdings in W. P. Carey were worth $4,505,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. National Pension Service purchased a new stake in shares of W. P. Carey during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the fourth quarter worth about $37,000. Millstone Evans Group LLC purchased a new position in W. P. Carey in the fourth quarter valued at about $37,000. Bessemer Group Inc. grew its position in shares of W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 402 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey during the 4th quarter worth approximately $48,000. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on WPC. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average target price of $108.50.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $0.33 on Monday, hitting $62.02. 153,732 shares of the company traded hands, compared to its average volume of 1,167,502. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.58 billion, a P/E ratio of 29.67, a P/E/G ratio of 1.06 and a beta of 0.81. The firm's 50-day simple moving average is $61.59 and its 200 day simple moving average is $58.18.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that W. P. Carey Inc. will post 4.87 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 Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.89 per share. The ex-dividend date was Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.74%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is currently 183.51%.

About W. P. Carey

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.