Schonfeld Strategic Advisors LLC Sells 89,118 Shares of W. P. Carey Inc. (NYSE:WPC)

Schonfeld Strategic Advisors LLC reduced its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 95.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,099 shares of the real estate investment trust's stock after selling 89,118 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in W. P. Carey were worth $223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. National Pension Service acquired a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC acquired a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $37,000. Bessemer Group Inc. raised its holdings in shares of W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 402 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $48,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Up 1.0%

Shares of WPC traded up $0.63 during mid-day trading on Friday, hitting $61.88. 1,146,057 shares of the company's stock were exchanged, compared to its average volume of 1,169,013. The firm has a fifty day moving average of $60.95 and a two-hundred day moving average of $58.38. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.06 and a beta of 0.78. 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 (NYSE:WPC - Get Free Report) last announced 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). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The business had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the company earned $1.14 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.89 per share. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 183.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WPC. Evercore ISI boosted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. UBS Group dropped their price objective on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Royal Bank of Canada upped their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $108.88.

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.