W. P. Carey Inc. (NYSE:WPC) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 93.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,347 shares of the real estate investment trust’s stock after selling 1,277,167 shares during the period. Daiwa Securities Group Inc.’s holdings in W. P. Carey were worth $5,753,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

WPC has been the topic of a number of research reports. Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group lowered their target price 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. Evercore ISI upped their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Royal Bank of Canada lowered 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 research report on Thursday, August 1st. Finally, Scotiabank cut their price objective 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 research 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 company currently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Performance

NYSE:WPC opened at $56.84 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The firm’s fifty day simple moving average is $58.83 and its 200-day simple moving average is $58.22. The stock has a market cap of $12.44 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

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 analysts’ consensus estimates 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 company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the business posted $1.32 earnings per share. Analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.16%. W. P. Carey’s payout ratio is currently 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.