W. P. Carey Inc. (NYSE:WPC) Shares Sold by MML Investors Services LLC

MML Investors Services LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 7.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 127,356 shares of the real estate investment trust’s stock after selling 10,262 shares during the period. MML Investors Services LLC owned approximately 0.06% of W. P. Carey worth $7,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP grew its stake in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Maia Wealth LLC purchased a new stake in W. P. Carey during the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV raised its position in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 172 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WPC. UBS Group dropped 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, November 14th. Barclays upped their target price 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. Evercore ISI lifted 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. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Down 0.5 %

Shares of W. P. Carey stock opened at $55.53 on Thursday. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. 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 business’s 50 day simple moving average is $57.31 and its 200-day simple moving average is $58.01.

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 for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the business earned $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% on a year-over-year basis. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.30%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is presently 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.