W.P. Carey Inc. $WPC Holdings Lowered by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC decreased its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 713,703 shares of the real estate investment trust's stock after selling 61,907 shares during the period. Commonwealth Equity Services LLC owned about 0.31% of W.P. Carey worth $46,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. Concurrent Investment Advisors LLC raised its holdings in W.P. Carey by 1.1% during the second quarter. Concurrent Investment Advisors LLC now owns 13,818 shares of the real estate investment trust's stock worth $988,000 after purchasing an additional 148 shares in the last quarter. Mystic Asset Management Inc. lifted its position in W.P. Carey by 4.5% in the third quarter. Mystic Asset Management Inc. now owns 4,626 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 200 shares during the period. Inspirion Wealth Advisors LLC boosted its holdings in W.P. Carey by 0.9% in the 3rd quarter. Inspirion Wealth Advisors LLC now owns 22,644 shares of the real estate investment trust's stock valued at $1,464,000 after purchasing an additional 212 shares in the last quarter. Burney Co. boosted its holdings in W.P. Carey by 4.8% in the 1st quarter. Burney Co. now owns 4,727 shares of the real estate investment trust's stock valued at $321,000 after purchasing an additional 217 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its holdings in W.P. Carey by 102.3% in the 3rd quarter. GoalVest Advisory LLC now owns 449 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. Citigroup cut their target price on W.P. Carey from $75.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, October 29th. Weiss Ratings cut W.P. Carey from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Benchmark initiated coverage on W.P. Carey in a research note on Tuesday, September 22nd. They issued a "buy" rating on the stock. Wells Fargo & Company dropped their price objective on W.P. Carey from $80.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Finally, Barclays dropped their price objective on W.P. Carey from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.79.

W.P. Carey Stock Down 0.4%

Shares of NYSE WPC opened at $65.04 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.99. W.P. Carey Inc. has a 52 week low of $62.19 and a 52 week high of $77.22. The firm has a 50-day moving average price of $65.93 and a 200 day moving average price of $70.72. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.09). W.P. Carey had a return on equity of 7.67% and a net margin of 35.60%. The company had revenue of $468.30 million for the quarter, compared to analysts' expectations of $457.57 million. During the same period in the prior year, the firm posted $1.25 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that W.P. Carey Inc. will post 5.07 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Wednesday, September 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.94. W.P. Carey's payout ratio is 131.03%.

W.P. Carey Profile

W.P. Carey Inc is a real estate investment trust that owns and manages commercial properties leased to businesses under long-term net leases. Under these arrangements, tenants typically pay property expenses such as taxes, insurance and maintenance in addition to rent.

The company's portfolio focuses primarily on industrial and warehouse properties, along with retail and self-storage facilities. Its properties serve tenants in the United States and Europe. In 2023, W.P. Carey separated its office properties into a new, publicly traded company as part of a shift toward its other property types.

Founded in 1973 by William Polk Carey, the company converted to a REIT in 2012.

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