HBK Sorce Advisory LLC Sells 5,999 Shares of W.P. Carey Inc. (NYSE:WPC)

HBK Sorce Advisory LLC reduced its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 35.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,979 shares of the real estate investment trust's stock after selling 5,999 shares during the quarter. HBK Sorce Advisory LLC's holdings in W.P. Carey were worth $693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. IAG Wealth Partners LLC boosted its position in shares of W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after purchasing an additional 163 shares during the period. DF Dent & Co. Inc. boosted its holdings in shares of W.P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock worth $298,000 after buying an additional 183 shares during the period. HighTower Advisors LLC increased its position in shares of W.P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after acquiring an additional 193 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of W.P. Carey by 5.4% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust's stock valued at $341,000 after acquiring an additional 315 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of W.P. Carey by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 44,584 shares of the real estate investment trust's stock valued at $2,429,000 after acquiring an additional 330 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Stock Down 0.8%

Shares of W.P. Carey stock traded down $0.51 during trading on Monday, hitting $62.36. 1,491,901 shares of the stock traded hands, compared to its average volume of 1,164,851. The company has a fifty day moving average price of $62.11 and a two-hundred day moving average price of $59.81. 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 cap of $13.66 billion, a P/E ratio of 32.14, a PEG ratio of 7.00 and a beta of 0.80. 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 announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the company earned $1.14 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.90 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.77%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 183.51%.

Analysts Set New Price Targets

Several research firms have weighed in on WPC. Scotiabank lifted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Royal Bank Of Canada increased their price objective on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. Finally, UBS Group dropped their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $100.40.

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.