W. P. Carey Inc. (NYSE:WPC) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance decreased its holdings in W. P. Carey Inc. (NYSE:WPC) by 10.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,956 shares of the real estate investment trust’s stock after selling 1,077 shares during the quarter. Independent Advisor Alliance’s holdings in W. P. Carey were worth $558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC raised its stake in W. P. Carey by 21.0% in the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 3,884 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in W. P. Carey by 3.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 23,677 shares of the real estate investment trust’s stock worth $1,475,000 after purchasing an additional 858 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in W. P. Carey during the 3rd quarter worth approximately $640,000. Finally, Napa Wealth Management increased its stake in W. P. Carey by 19.8% during the 3rd quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock valued at $294,000 after purchasing an additional 778 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WPC shares. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays raised their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI raised their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 1.2 %

WPC stock opened at $57.54 on Thursday. 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 cap of $12.59 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.07 and a beta of 0.95. The business’s 50-day moving average is $58.70 and its 200 day moving average is $58.21.

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

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.08%. W. P. Carey’s dividend payout ratio is 137.80%.

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.