W.P. Carey Inc. (NYSE:WPC) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,262 shares of the real estate investment trust's stock after selling 4,276 shares during the period. Amalgamated Bank's holdings in W.P. Carey were worth $6,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its position in shares of W.P. Carey by 22.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,550 shares of the real estate investment trust's stock valued at $684,000 after purchasing an additional 2,297 shares during the period. Proficio Capital Partners LLC purchased a new position in W.P. Carey in the 4th quarter valued at about $1,428,000. US Bancorp DE boosted its holdings in W.P. Carey by 8.3% in the 4th quarter. US Bancorp DE now owns 32,764 shares of the real estate investment trust's stock worth $1,785,000 after buying an additional 2,499 shares during the last quarter. Metis Global Partners LLC increased its stake in W.P. Carey by 7.4% during the 4th quarter. Metis Global Partners LLC now owns 28,059 shares of the real estate investment trust's stock worth $1,529,000 after buying an additional 1,928 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in W.P. Carey by 59.0% during the 4th quarter. Jones Financial Companies Lllp now owns 3,099 shares of the real estate investment trust's stock worth $169,000 after buying an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Up 0.5%

Shares of WPC stock traded up $0.33 on Wednesday, hitting $63.32. 953,573 shares of the stock traded hands, compared to its average volume of 1,166,330. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The stock has a market capitalization of $13.87 billion, a PE ratio of 32.64, a PEG ratio of 6.94 and a beta of 0.78. The firm's 50-day moving average price is $62.13 and its two-hundred day moving average price is $59.83. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. As a group, analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.69%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's dividend payout ratio is presently 185.57%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WPC shares. Wells Fargo & Company lifted their price target on W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. Scotiabank raised their price target on shares of 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. Finally, Evercore ISI upped their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $100.60.

W.P. Carey Company 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.