Prime Capital Investment Advisors LLC Trims Stock Position in W. P. Carey Inc. (NYSE:WPC)

Prime Capital Investment Advisors LLC decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,409 shares of the real estate investment trust’s stock after selling 338 shares during the period. Prime Capital Investment Advisors LLC’s holdings in W. P. Carey were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WPC. US Bancorp DE boosted its position in W. P. Carey by 0.7% during the 1st quarter. US Bancorp DE now owns 35,203 shares of the real estate investment trust’s stock valued at $1,987,000 after acquiring an additional 244 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of W. P. Carey by 5.6% during the first quarter. Kingsview Wealth Management LLC now owns 5,006 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 264 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in W. P. Carey by 17.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,780 shares of the real estate investment trust’s stock worth $9,566,000 after purchasing an additional 24,970 shares during the period. Intech Investment Management LLC raised its holdings in W. P. Carey by 143.2% in the first quarter. Intech Investment Management LLC now owns 9,005 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 5,303 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after buying an additional 187,022 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC stock opened at $55.77 on Friday. The stock’s 50 day simple moving average is $59.52 and its 200 day simple moving average is $58.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The stock has a market capitalization of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the company earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Evercore ISI lifted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Barclays lifted their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.88.

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.