Te Ahumairangi Investment Management Ltd Sells 9,400 Shares of W.P. Carey Inc. $WPC

Key Points

• Te Ahumairangi Investment Management Ltd sold 9,400 shares of W.P. Carey Inc., reducing its holdings by 11.2%, leaving it with 74,627 shares worth approximately $4.71 million.
• Several institutional investors recently adjusted their stakes in W.P. Carey, with a total institutional ownership of 73.73%, indicating significant interest from large investors.
• W.P. Carey declared a quarterly dividend of $0.90 per share, resulting in an annualized yield of 5.4%, representing an increase from the previous quarter's dividend.

Te Ahumairangi Investment Management Ltd decreased its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,627 shares of the real estate investment trust's stock after selling 9,400 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in W.P. Carey were worth $4,710,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WPC. von Borstel & Associates Inc. bought a new stake in W.P. Carey during the 1st quarter valued at approximately $26,000. TCTC Holdings LLC boosted its stake in W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC bought a new stake in W.P. Carey during the 1st quarter valued at approximately $37,000. Fourth Dimension Wealth LLC bought a new stake in W.P. Carey during the 4th quarter valued at approximately $44,000. Finally, Quarry LP bought a new stake in W.P. Carey during the 4th quarter valued at approximately $50,000. Institutional investors own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent analyst reports. BNP Paribas Exane upgraded 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 target price on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Wells Fargo & Company raised their price objective on W.P. Carey from $66.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Barclays raised their price objective on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Finally, UBS Group raised their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $65.89.

W.P. Carey Trading Down 0.6%

Shares of WPC opened at $66.45 on Friday. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $67.40. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $64.15 and a 200-day simple moving average of $62.46. The stock has a market cap of $14.55 billion, a PE ratio of 43.72, a PEG ratio of 9.76 and a beta of 0.78.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period in the prior year, the firm posted $1.17 EPS. W.P. Carey's quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, sell-side analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a yield of 5.4%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is 236.84%.

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.

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