Nisa Investment Advisors LLC Sells 7,596 Shares of W.P. Carey Inc. (NYSE:WPC)

Nisa Investment Advisors LLC reduced its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,979 shares of the real estate investment trust's stock after selling 7,596 shares during the quarter. Nisa Investment Advisors LLC's holdings in W.P. Carey were worth $3,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of W.P. Carey by 59.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,099 shares of the real estate investment trust's stock valued at $169,000 after acquiring an additional 1,150 shares during the period. Proficio Capital Partners LLC acquired a new stake in W.P. Carey in the fourth quarter worth about $1,428,000. Amundi grew its position in shares of W.P. Carey by 4.0% during the 4th quarter. Amundi now owns 271,703 shares of the real estate investment trust's stock worth $14,884,000 after buying an additional 10,365 shares during the period. Independent Advisor Alliance grew its position in shares of W.P. Carey by 15.4% in the 4th quarter. Independent Advisor Alliance now owns 10,337 shares of the real estate investment trust's stock valued at $563,000 after purchasing an additional 1,381 shares during the period. Finally, HighTower Advisors LLC grew its position 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. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Up 0.5%

W.P. Carey stock traded up $0.33 during trading on Friday, hitting $62.81. 1,142,203 shares of the company were exchanged, compared to its average volume of 1,162,262. The business's 50 day moving average is $62.34 and its 200 day moving average is $60.26. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. 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 capitalization of $13.75 billion, a P/E ratio of 32.38, a PEG ratio of 6.99 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share 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 during the quarter, compared to analysts' expectations of $412.99 million. During the same period in the prior year, the firm posted $1.14 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.73%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's payout ratio is presently 185.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. Evercore ISI raised their price objective 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. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research note on Monday, June 9th. UBS Group lowered their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada lifted their target price on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $104.22.

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.