Citigroup Inc. Has $13.67 Million Position in W.P. Carey Inc. (NYSE:WPC)

Citigroup Inc. cut its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 16.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,522 shares of the real estate investment trust's stock after selling 42,262 shares during the period. Citigroup Inc. owned about 0.10% of W.P. Carey worth $13,665,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after acquiring an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. increased its position in W.P. Carey by 4.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after purchasing an additional 26,665 shares during the last quarter. Capital Advisors Inc. OK acquired a new position in W.P. Carey in the 1st quarter worth about $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of W.P. Carey by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of W.P. Carey by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock valued at $162,000 after buying an additional 681 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Price Performance

NYSE WPC opened at $65.19 on Friday. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.64. The company has a fifty day simple moving average of $63.60 and a 200 day simple moving average of $61.75. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a market cap of $14.28 billion, a P/E ratio of 42.89, a P/E/G ratio of 9.60 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.5%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WPC. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a report on Monday, June 9th. Royal Bank Of Canada boosted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, Evercore ISI increased their target price on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.00.

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.

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