Exchange Traded Concepts LLC Sells 13,484 Shares of W. P. Carey Inc. (NYSE:WPC)

Exchange Traded Concepts LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,941 shares of the real estate investment trust's stock after selling 13,484 shares during the period. Exchange Traded Concepts LLC's holdings in W. P. Carey were worth $3,783,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WPC. Norges Bank bought a new position in W. P. Carey in the 4th quarter valued at $139,381,000. Demars Financial Group LLC lifted its holdings in shares of W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock worth $54,387,000 after acquiring an additional 988,409 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 29.1% during 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 acquiring an additional 906,622 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 worth $143,894,000 after acquiring an additional 758,627 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of W. P. Carey during the 4th quarter worth $31,442,000. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WPC shares. Evercore ISI lifted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. BNP Paribas Exane raised shares of W. P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a report on Monday, June 9th. Barclays set a $61.00 price objective on shares of W. P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. UBS Group decreased their target price on shares of 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. Finally, 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 report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. P. Carey currently has a consensus rating of "Hold" and a consensus price target of $100.40.

W. P. Carey Price Performance

WPC stock opened at $62.78 on Tuesday. The firm's 50-day moving average price is $61.42 and its two-hundred day moving average price is $59.30. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 1.06 and a beta of 0.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $412.99 million. During the same quarter in the previous year, the firm posted $1.14 EPS. W. P. Carey's revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced 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 is a positive change from W. P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.73%. W. P. Carey's payout ratio is presently 185.57%.

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.

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