Focus Partners Wealth Reduces Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Focus Partners Wealth trimmed its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 84.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other institutional investors have also modified their holdings of WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $37,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $37,000. Bessemer Group Inc. lifted its stake in shares of W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $48,000. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WPC has been the subject of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Barclays set a $61.00 price target on W. P. Carey and gave the stock an "underweight" rating in a research note on Wednesday. Finally, Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey presently has a consensus rating of "Hold" and a consensus price target of $109.00.

W. P. Carey Stock Up 1.9%

NYSE WPC traded up $1.15 on Friday, reaching $61.37. 1,398,538 shares of the stock traded hands, compared to its average volume of 1,177,170. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average price of $60.83 and a 200-day moving average price of $58.58. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $412.99 million. During the same quarter in the prior year, the business posted $1.14 earnings per share. The company's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.80%. W. P. Carey's dividend payout ratio (DPR) is currently 183.51%.

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.