Empower Advisory Group LLC Sells 564 Shares of W. P. Carey Inc. (NYSE:WPC)

Empower Advisory Group LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,957 shares of the real estate investment trust’s stock after selling 564 shares during the quarter. Empower Advisory Group LLC’s holdings in W. P. Carey were worth $371,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WPC. HB Wealth Management LLC grew its stake in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares during the period. SG Americas Securities LLC boosted its holdings in shares of W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after buying an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after acquiring an additional 9,324 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $54.84 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $12.00 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The stock’s fifty day simple moving average is $59.63 and its two-hundred day simple moving average is $58.19. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40.

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 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 the consensus estimate of $377.43 million. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date 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 is 137.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WPC shares. UBS Group decreased 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. Barclays upped their price target 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 reduced their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Evercore ISI upped their target price on 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. Finally, Scotiabank reduced their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey 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.