HBK Sorce Advisory LLC Trims Holdings in W.P. Carey Inc. (NYSE:WPC)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of WPC. Golden State Wealth Management LLC boosted its stake in shares of W.P. Carey by 101.7% during the first quarter. Golden State Wealth Management LLC now owns 3,272 shares of the real estate investment trust's stock worth $207,000 after buying an additional 1,650 shares during the period. Spire Wealth Management raised its stake in W.P. Carey by 48.5% during the 1st quarter. Spire Wealth Management now owns 3,052 shares of the real estate investment trust's stock valued at $193,000 after acquiring an additional 997 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in W.P. Carey during the 1st quarter worth approximately $1,759,000. BridgePort Financial Solutions LLC grew its stake in shares of W.P. Carey by 3.6% in the 1st quarter. BridgePort Financial Solutions LLC now owns 28,501 shares of the real estate investment trust's stock valued at $1,799,000 after purchasing an additional 979 shares during the last quarter. Finally, Keudell Morrison Wealth Management grew its stake in shares of W.P. Carey by 9.0% in the 1st quarter. Keudell Morrison Wealth Management now owns 4,460 shares of the real estate investment trust's stock valued at $281,000 after purchasing an additional 368 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WPC shares. UBS Group decreased their price target on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a report on Monday, June 9th. Scotiabank increased 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 report on Wednesday, March 12th. Finally, Royal Bank Of Canada lifted their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $100.40.

W.P. Carey Stock Up 0.5%

WPC stock opened at $62.99 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The company's 50-day moving average price is $62.08 and its 200 day moving average price is $59.67. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a market cap of $13.79 billion, a P/E ratio of 32.47, a P/E/G ratio of 6.97 and a beta of 0.80.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. W.P. Carey's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, research analysts expect 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 will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.90 dividend. 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 annualized dividend and a yield of 5.72%. W.P. Carey's dividend payout ratio is 183.51%.

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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