Private Advisor Group LLC Sells 8,797 Shares of W.P. Carey Inc. (NYSE:WPC)

Private Advisor Group LLC lowered its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 16.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 46,330 shares of the real estate investment trust's stock after selling 8,797 shares during the period. Private Advisor Group LLC's holdings in W.P. Carey were worth $2,924,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sei Investments Co. raised its position in W.P. Carey by 17.1% during the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after purchasing an additional 8,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in W.P. Carey by 13.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after acquiring an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock valued at $38,272,000 after acquiring an additional 26,665 shares during the last quarter. Capital Advisors Inc. OK bought a new position in shares of W.P. Carey during the 1st quarter worth about $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of W.P. Carey by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Up 0.3%

NYSE:WPC traded up $0.17 during mid-day trading on Friday, hitting $64.61. 1,113,472 shares of the company's stock were exchanged, compared to its average volume of 1,223,595. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The business has a fifty day moving average price of $62.62 and a 200 day moving average price of $60.72. The company has a market cap of $14.15 billion, a PE ratio of 33.31, a P/E/G ratio of 6.25 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (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 firm had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. During the same period last year, the firm posted $1.14 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.57%. W.P. Carey's dividend payout ratio is 185.57%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of 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 set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Royal Bank Of Canada raised their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group cut their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.