MAI Capital Management Sells 4,791 Shares of W.P. Carey Inc. $WPC

Key Points

• MAI Capital Management has reduced its stake in W.P. Carey Inc. by 34.2%, now holding 9,209 shares valued at approximately $581,000.
• W.P. Carey recently announced a quarterly dividend of $0.90, representing an annualized dividend of $3.60 and a yield of 5.4%.
• Several analysts have upgraded their price targets for W.P. Carey, with an average consensus target price of $65.89 and most analysts rating the stock as a "Hold."

MAI Capital Management lowered its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 34.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,209 shares of the real estate investment trust's stock after selling 4,791 shares during the quarter. MAI Capital Management's holdings in W.P. Carey were worth $581,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WPC. JPMorgan Chase & Co. boosted its stake in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after buying an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. increased its stake in W.P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after purchasing an additional 1,595,045 shares in the last quarter. Nuveen LLC purchased a new position in W.P. Carey in the 1st quarter worth about $30,194,000. Private Management Group Inc. purchased a new position in W.P. Carey in the 1st quarter worth about $29,923,000. Finally, Millennium Management LLC grew its stake in W.P. Carey by 514.7% during the 4th quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust's stock valued at $29,361,000 after acquiring an additional 451,262 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Price Performance

Shares of WPC stock traded up $0.39 during trading hours on Tuesday, hitting $67.74. 569,955 shares of the company's stock were exchanged, compared to its average volume of 1,232,321. The stock's 50-day moving average is $64.67 and its 200-day moving average is $62.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 9.97 and a beta of 0.82. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $68.28.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.90 per share. The ex-dividend date was Monday, June 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.3%. W.P. Carey's dividend payout ratio (DPR) is currently 236.84%.

Analysts Set New Price Targets

WPC has been the topic of several research analyst reports. Evercore ISI lifted their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Barclays boosted their target price on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a report on Wednesday, August 20th. Royal Bank Of Canada upped their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wells Fargo & Company upped their price target on W.P. Carey from $66.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Finally, UBS Group upped their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $66.33.

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.