W. P. Carey Inc. (NYSE:WPC) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 5.5% during the 3rd quarter, Holdings Channel reports. The fund owned 188,200 shares of the real estate investment trust’s stock after selling 11,002 shares during the quarter. Pacer Advisors Inc.’s holdings in W. P. Carey were worth $11,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares in the last quarter. Victory Capital Management Inc. boosted its position in W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after purchasing an additional 479,973 shares in the last quarter. Hsbc Holdings PLC grew its holdings in W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares during the period. Equity Investment Corp increased its position in shares of W. P. Carey by 38.9% in the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after buying an additional 412,450 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group dropped 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, November 14th. Scotiabank cut their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays boosted their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Up 0.4 %

NYSE WPC opened at $57.10 on Friday. The business’s fifty day simple moving average is $58.95 and its 200-day simple moving average is $58.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.50 billion, a PE ratio of 22.48, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40.

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

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.13%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend 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.