W. P. Carey Inc. (NYSE:WPC) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC reduced its holdings in W. P. Carey Inc. (NYSE:WPC) by 7.5% during the 3rd quarter, Holdings Channel reports. The fund owned 5,801 shares of the real estate investment trust’s stock after selling 472 shares during the period. Main Street Financial Solutions LLC’s holdings in W. P. Carey were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada cut 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. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Scotiabank reduced their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Down 1.0 %

Shares of W. P. Carey stock opened at $54.84 on Friday. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.03 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. The company’s 50-day simple moving average is $59.63 and its 200-day simple moving average is $58.19. 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 (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. W. P. Carey’s dividend payout ratio (DPR) 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.