Sheets Smith Wealth Management Cuts Stock Holdings in W.P. Carey Inc. $WPC

Key Points

• Sheets Smith Wealth Management reduced its holdings in W.P. Carey Inc. by 4.2% in the second quarter, leaving them with 91,718 shares valued at approximately $5.72 million.
• W.P. Carey recently announced a quarterly dividend of $0.91 per share, increasing from the previous $0.90, reflecting a 5.4% dividend yield.
• The company reported earnings per share of $1.28 for the last quarter, surpassing analyst estimates, with a revenue increase of 10.5% year-over-year.

Sheets Smith Wealth Management decreased its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,718 shares of the real estate investment trust's stock after selling 3,997 shares during the quarter. Sheets Smith Wealth Management's holdings in W.P. Carey were worth $5,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after buying an additional 1,442 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in W.P. Carey by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after buying an additional 26,665 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in W.P. Carey in the first quarter worth approximately $345,000. Ethos Financial Group LLC purchased a new stake in W.P. Carey in the first quarter worth approximately $372,000. Finally, GAMMA Investing LLC boosted its stake in W.P. Carey by 36.1% in the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock worth $162,000 after buying an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Performance

Shares of WPC stock opened at $67.71 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00. The stock has a 50 day moving average price of $65.82 and a two-hundred day moving average price of $63.17. The company has a market capitalization of $14.83 billion, a P/E ratio of 44.55, a PEG ratio of 9.77 and a beta of 0.82.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 30th. W.P. Carey's dividend payout ratio is currently 239.47%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank upped their target price on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Friday, September 5th. UBS Group upped their target price on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research note on Monday, June 9th. BNP Paribas set a $66.00 price objective on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Finally, Barclays boosted their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.22.

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.

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