W. P. Carey Inc. (NYSE:WPC) Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,233 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. Jackson Wealth Management LLC’s holdings in W. P. Carey were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WPC. Cohen & Steers Inc. raised its holdings in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after acquiring an additional 5,407,289 shares during the last quarter. Norges Bank acquired a new position in shares of W. P. Carey in the fourth quarter worth $157,107,000. Daiwa Securities Group Inc. raised its holdings in shares of W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Equity Investment Corp purchased a new stake in shares of W. P. Carey in the first quarter valued at $59,802,000. Finally, Principal Financial Group Inc. grew its position in shares of W. P. Carey by 4,716.5% in the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after purchasing an additional 785,766 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WPC. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Scotiabank boosted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Royal Bank of Canada decreased their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $60.91.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.06 during trading on Friday, hitting $57.23. 1,576,385 shares of the company traded hands, compared to its average volume of 1,184,878. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.07 and a beta of 0.92. The business’s fifty day moving average is $56.78 and its 200-day moving average is $57.39. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $67.75. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same period last year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. As a group, equities analysts predict that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 6.08%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. W. P. Carey’s dividend payout ratio is 132.32%.

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.