W.P. Carey Inc. $WPC Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its position in W.P. Carey Inc. by 20.9%, holding 18,887 shares valued at approximately $1.19 million after selling nearly 5,000 shares in the first quarter.
• W.P. Carey has seen recent price target increases from several analysts, with a consensus target price of $65.67 and primarily "neutral" ratings, indicating a stable outlook for the stock.
• The company has increased its quarterly dividend to $0.90, reflecting a dividend yield of 5.5% and signalling strong cash flow management.

1832 Asset Management L.P. reduced its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,887 shares of the real estate investment trust's stock after selling 4,994 shares during the quarter. 1832 Asset Management L.P.'s holdings in W.P. Carey were worth $1,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of W.P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock worth $322,630,000 after purchasing an additional 3,747,898 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in W.P. Carey by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock valued at $266,224,000 after purchasing an additional 195,466 shares during the period. Northern Trust Corp lifted its position in W.P. Carey by 2.1% during the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock valued at $170,198,000 after purchasing an additional 55,615 shares during the period. Charles Schwab Investment Management Inc. grew its position in W.P. Carey by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust's stock valued at $168,018,000 after buying an additional 20,495 shares during the period. Finally, Bank of New York Mellon Corp grew its position in W.P. Carey by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 2,248,019 shares of the real estate investment trust's stock valued at $141,872,000 after buying an additional 10,114 shares during the period. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WPC shares. Barclays raised their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada increased their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Evercore ISI raised their price objective on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. UBS Group upped their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company upped their target price on W.P. Carey from $66.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.89.

W.P. Carey Stock Up 0.9%

Shares of NYSE WPC traded up $0.60 during trading hours on Friday, hitting $67.08. 850,711 shares of the stock were exchanged, compared to its average volume of 1,242,030. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a market cap of $14.69 billion, a PE ratio of 44.13, a PEG ratio of 9.76 and a beta of 0.78. The firm has a fifty day moving average price of $64.15 and a 200-day moving average price of $62.46. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $67.40.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, sell-side analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.90 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.4%. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

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.