W.P. Carey Inc. $WPC Position Lessened by Pensionfund Sabic

Key Points

• Pensionfund Sabic has reduced its holdings in W.P. Carey Inc. by 16.3%, now owning 43,804 shares valued at $2,765,000, making it the 29th largest position in their portfolio.
• W.P. Carey reported earnings per share of $1.28 for the last quarter, exceeding expectations, with a revenue of $430.78 million, which is an increase of 10.5% year-over-year.
• Several brokerage firms have recently upgraded their ratings and price targets for W.P. Carey, with Wells Fargo increasing its price target from $68.00 to $72.00 and changing its rating to "overweight."

Pensionfund Sabic cut its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 16.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,804 shares of the real estate investment trust's stock after selling 8,500 shares during the quarter. W.P. Carey comprises approximately 0.8% of Pensionfund Sabic's portfolio, making the stock its 29th biggest holding. Pensionfund Sabic's holdings in W.P. Carey were worth $2,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. increased 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 worth $322,630,000 after acquiring an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. increased its stake in W.P. Carey by 1,016.8% during the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after acquiring an additional 1,595,045 shares during the last quarter. Nuveen LLC acquired a new stake in W.P. Carey during the first quarter worth about $30,194,000. Private Management Group Inc. acquired a new stake in W.P. Carey during the first quarter worth about $29,923,000. Finally, Millennium Management LLC increased its stake in W.P. Carey by 514.7% during the fourth quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust's stock worth $29,361,000 after acquiring an additional 451,262 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPC. Barclays increased their target price on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Wells Fargo & Company upgraded W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Evercore ISI increased their target price on W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research note on Monday. Finally, Royal Bank Of Canada increased their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.22.

W.P. Carey Stock Performance

Shares of WPC traded down $0.24 during mid-day trading on Thursday, hitting $67.70. The stock had a trading volume of 264,794 shares, compared to its average volume of 1,223,839. The company has a market cap of $14.83 billion, a PE ratio of 44.52, a PEG ratio of 9.91 and a beta of 0.82. The company's fifty day simple moving average is $65.44 and its two-hundred day simple moving average is $63.11. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00.

W.P. Carey (NYSE:WPC - Get Free Report) last issued 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 during the quarter, compared to analyst estimates 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 was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

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.