W. P. Carey Inc. (NYSE:WPC) Shares Sold by Focus Partners Wealth

Focus Partners Wealth lessened its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 84.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,741 shares of the real estate investment trust's stock after selling 80,840 shares during the period. Focus Partners Wealth's holdings in W. P. Carey were worth $803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ensign Peak Advisors Inc grew its stake in shares of W. P. Carey by 16.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 156,091 shares of the real estate investment trust's stock worth $8,504,000 after buying an additional 22,516 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of W. P. Carey by 47.8% during the 4th quarter. EP Wealth Advisors LLC now owns 12,637 shares of the real estate investment trust's stock worth $688,000 after purchasing an additional 4,088 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of W. P. Carey during the 4th quarter worth about $194,000. Baird Financial Group Inc. boosted its position in shares of W. P. Carey by 234.6% during the 4th quarter. Baird Financial Group Inc. now owns 51,003 shares of the real estate investment trust's stock worth $2,779,000 after purchasing an additional 35,761 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of W. P. Carey by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 730,278 shares of the real estate investment trust's stock worth $39,667,000 after acquiring an additional 47,484 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Down 1.1%

WPC stock traded down $0.69 during trading on Wednesday, hitting $60.38. 1,369,602 shares of the company's stock traded hands, compared to its average volume of 1,173,287. The firm has a market capitalization of $13.22 billion, a P/E ratio of 28.89, a PEG ratio of 1.06 and a beta of 0.78. The business has a fifty day simple moving average of $60.89 and a two-hundred day simple moving average of $58.49. 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 Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. W. P. Carey's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.87 EPS 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 is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.90%. W. P. Carey's dividend payout ratio is presently 183.51%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Royal Bank of Canada raised their price target on W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, UBS Group decreased their price objective on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $109.00.

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.