ProShare Advisors LLC Trims Position in W. P. Carey Inc. (NYSE:WPC)

ProShare Advisors LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,239 shares of the real estate investment trust's stock after selling 8,841 shares during the quarter. ProShare Advisors LLC's holdings in W. P. Carey were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in shares of W. P. Carey by 120.2% in the fourth quarter. Quantinno Capital Management LP now owns 50,382 shares of the real estate investment trust's stock valued at $2,745,000 after purchasing an additional 27,498 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of W. P. Carey by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 58,450 shares of the real estate investment trust's stock valued at $3,186,000 after purchasing an additional 1,117 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $2,877,000. OMERS ADMINISTRATION Corp grew its position in W. P. Carey by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,130 shares of the real estate investment trust's stock worth $497,000 after acquiring an additional 1,548 shares during the period. Finally, Mubadala Investment Co PJSC purchased a new position in W. P. Carey in the fourth quarter worth approximately $2,364,000. Institutional investors and hedge funds own 73.73% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. 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, Barclays set a $61.00 price target on W. P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, W. P. Carey presently has an average rating of "Hold" and a consensus price target of $109.00.

W. P. Carey Stock Performance

WPC stock traded up $0.09 during trading on Thursday, hitting $62.93. The company had a trading volume of 748,645 shares, compared to its average volume of 1,177,033. The firm has a market cap of $13.78 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The firm has a 50-day moving average price of $60.87 and a 200-day moving average price of $58.69. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly 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 net margin of 29.11% and a return on equity of 5.37%. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the firm earned $1.14 EPS. The business's revenue was up 5.3% on a year-over-year basis. On average, analysts expect that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 183.51%.

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.