W.P. Carey Inc. (NYSE:WPC) Shares Sold by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC decreased its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 56.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,747 shares of the real estate investment trust's stock after selling 4,900 shares during the quarter. Clear Creek Financial Management LLC's holdings in W.P. Carey were worth $236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. BLB&B Advisors LLC bought a new position in shares of W.P. Carey during the 1st quarter valued at approximately $697,000. Prairiewood Capital LLC grew its stake in shares of W.P. Carey by 9.7% during the 1st quarter. Prairiewood Capital LLC now owns 77,457 shares of the real estate investment trust's stock valued at $4,888,000 after acquiring an additional 6,845 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of W.P. Carey by 13.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after acquiring an additional 1,442 shares during the period. Money Concepts Capital Corp bought a new position in shares of W.P. Carey during the 1st quarter valued at approximately $203,000. Finally, Achmea Investment Management B.V. grew its stake in shares of W.P. Carey by 10.6% during the 1st quarter. Achmea Investment Management B.V. now owns 173,202 shares of the real estate investment trust's stock valued at $10,931,000 after acquiring an additional 16,540 shares during the period. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Price Performance

Shares of NYSE:WPC traded down $0.63 during mid-day trading on Monday, reaching $62.60. The stock had a trading volume of 1,051,560 shares, compared to its average volume of 1,165,990. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The business's 50 day moving average price is $62.30 and its 200 day moving average price is $60.09. The company has a market cap of $13.71 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 7.04 and a beta of 0.78.

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 26.66% and a return on equity of 5.02%. 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. Research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.75%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. W.P. Carey's payout ratio is 185.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI boosted their price objective on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their price objective 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. UBS Group dropped their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Finally, Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus target price of $100.60.

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.