New Insight Wealth Advisors Sells 10,268 Shares of W.P. Carey Inc. (NYSE:WPC)

New Insight Wealth Advisors trimmed its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,750 shares of the real estate investment trust's stock after selling 10,268 shares during the period. W.P. Carey comprises 1.1% of New Insight Wealth Advisors' holdings, making the stock its 23rd largest position. New Insight Wealth Advisors' holdings in W.P. Carey were worth $2,509,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. IAG Wealth Partners LLC raised its holdings 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. GF Fund Management CO. LTD. raised its holdings in shares of 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 valued at $262,000 after purchasing an additional 168 shares during the period. DF Dent & Co. Inc. raised its holdings in shares of W.P. Carey by 3.5% in the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after purchasing an additional 183 shares during the period. HighTower Advisors LLC raised its holdings in shares of W.P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after purchasing an additional 193 shares during the period. Finally, World Investment Advisors raised its holdings in shares of W.P. Carey by 4.3% in the 1st quarter. World Investment Advisors now owns 6,909 shares of the real estate investment trust's stock valued at $436,000 after purchasing an additional 284 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of research analyst reports. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a report 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 upped their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Evercore ISI increased their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Finally, UBS Group lowered their price target on shares of 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $100.60.

W.P. Carey Stock Performance

Shares of WPC traded up $0.76 during mid-day trading on Thursday, hitting $62.56. 1,139,873 shares of the company's stock were exchanged, compared to its average volume of 1,168,153. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The stock's 50-day simple moving average is $62.32 and its 200-day simple moving average is $60.17. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 6.88 and a beta of 0.78. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its 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 the consensus estimate of $412.99 million. During the same period in the prior year, the business posted $1.14 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect 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 will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is 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 5.75%. W.P. Carey's dividend payout ratio (DPR) is currently 185.57%.

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.