Allworth Financial LP Trims Stock Holdings in W.P. Carey Inc. (NYSE:WPC)

Allworth Financial LP trimmed its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,703 shares of the real estate investment trust's stock after selling 4,767 shares during the quarter. Allworth Financial LP owned approximately 0.06% of W.P. Carey worth $7,996,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of W.P. Carey by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock valued at $1,679,110,000 after buying an additional 242,576 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of W.P. Carey by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of W.P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp increased its position in W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock valued at $143,894,000 after buying an additional 758,627 shares in the last quarter. Finally, Norges Bank purchased a new position in W.P. Carey during the fourth quarter valued at $139,381,000. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Performance

WPC stock traded up $0.33 during trading on Friday, reaching $62.81. The stock had a trading volume of 1,142,203 shares, compared to its average volume of 1,163,771. The firm has a market cap of $13.75 billion, a PE ratio of 32.38, a PEG ratio of 6.95 and a beta of 0.78. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The stock's 50 day moving average is $62.34 and its two-hundred day moving average is $60.23. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. W.P. Carey's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. As a group, equities analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Monday, June 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is currently 185.57%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WPC. Barclays set a $61.00 price target on W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. Evercore ISI raised their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. UBS Group lowered their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. Finally, BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of "Hold" and an average target price of $100.60.

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.