Forsta AP Fonden Sells 28,800 Shares of W.P. Carey Inc. (NYSE:WPC)

Key Points

• Forsta AP Fonden has reduced its stake in W.P. Carey Inc. by 31.5%, selling 28,800 shares to hold 62,500 shares valued at approximately $3.94 million.
• W.P. Carey announced a quarterly dividend increase from $0.89 to $0.90 per share, representing a 5.5% yield, with a payout ratio of 236.84%.
• W.P. Carey stock has received mixed analyst ratings, with a consensus rating of "Hold" and an average price target of $65.00, following recent adjustments by various analysts.

Forsta AP Fonden trimmed its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,500 shares of the real estate investment trust's stock after selling 28,800 shares during the quarter. Forsta AP Fonden's holdings in W.P. Carey were worth $3,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IAG Wealth Partners LLC increased its stake in W.P. Carey by 7.0% during the first quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock worth $157,000 after acquiring an additional 163 shares during the last quarter. GF Fund Management CO. LTD. grew its stake in W.P. Carey by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock worth $262,000 after acquiring an additional 168 shares in the last quarter. Crestwood Advisors Group LLC grew its stake in W.P. Carey by 2.8% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock worth $434,000 after acquiring an additional 185 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in W.P. Carey by 4.2% in the 1st quarter. Applied Finance Capital Management LLC now owns 5,490 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 221 shares in the last quarter. Finally, TCTC Holdings LLC grew its stake in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 242 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WPC has been the topic of a number of research analyst reports. Evercore ISI upped 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 note on Wednesday, July 2nd. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and an average price target of $65.00.

W.P. Carey Stock Down 0.4%

NYSE:WPC opened at $65.60 on Tuesday. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.64. The stock has a market capitalization of $14.37 billion, a P/E ratio of 43.16, a P/E/G ratio of 9.62 and a beta of 0.78. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The company's 50-day simple moving average is $63.40 and its 200-day simple moving average is $61.64.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating 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 period last year, the firm posted $1.17 EPS. On average, equities analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.90 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, June 30th. W.P. Carey's payout ratio is currently 236.84%.

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.

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