W. P. Carey Inc. (NYSE:WPC) Shares Sold by LRI Investments LLC

LRI Investments LLC lowered its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,911 shares of the real estate investment trust's stock after selling 4,603 shares during the quarter. LRI Investments LLC's holdings in W. P. Carey were worth $812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of W. P. Carey by 130.2% in the 4th quarter. Janus Henderson Group PLC now owns 27,585 shares of the real estate investment trust's stock valued at $1,503,000 after purchasing an additional 15,600 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in W. P. Carey by 16.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 156,091 shares of the real estate investment trust's stock valued at $8,504,000 after acquiring an additional 22,516 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in 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 acquiring an additional 4,088 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of W. P. Carey in the 4th quarter worth about $194,000. Finally, Baird Financial Group Inc. raised its stake in shares of W. P. Carey by 234.6% in the 4th quarter. Baird Financial Group Inc. now owns 51,003 shares of the real estate investment trust's stock valued at $2,779,000 after purchasing an additional 35,761 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 1.7%

W. P. Carey stock opened at $61.79 on Monday. The company's 50-day moving average price is $61.29 and its two-hundred day moving average price is $58.26. The stock has a market cap of $13.53 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, analysts expect that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.76%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 183.51%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WPC. Scotiabank boosted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Royal Bank of Canada raised their price target on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. One investment 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $108.50.

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.

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