W. P. Carey Inc. (NYSE:WPC) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 63.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 415 shares of the real estate investment trust’s stock after selling 712 shares during the period. Covestor Ltd’s holdings in W. P. Carey were worth $26,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. XML Financial LLC lifted its stake in shares of W. P. Carey by 5.1% in the 3rd quarter. XML Financial LLC now owns 34,817 shares of the real estate investment trust’s stock worth $2,169,000 after acquiring an additional 1,684 shares during the period. Demars Financial Group LLC lifted its stake in shares of W. P. Carey by 2.2% in the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 216 shares during the period. Assetmark Inc. lifted its stake in shares of W. P. Carey by 3.1% in the 3rd quarter. Assetmark Inc. now owns 10,013 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 304 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of W. P. Carey by 0.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 117,012 shares of the real estate investment trust’s stock worth $7,290,000 after acquiring an additional 459 shares during the period. Finally, Fiera Capital Corp acquired a new stake in shares of W. P. Carey in the 3rd quarter worth approximately $226,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WPC shares. UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank of Canada dropped their target price 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 boosted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Up 1.7 %

WPC stock opened at $55.77 on Friday. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The company’s 50 day simple moving average is $59.52 and its 200-day simple moving average is $58.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $12.21 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released 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 firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

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

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.