W. P. Carey Inc. (NYSE:WPC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in W. P. Carey Inc. (NYSE:WPC) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,435 shares of the real estate investment trust’s stock after selling 555 shares during the quarter. Fisher Asset Management LLC’s holdings in W. P. Carey were worth $276,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 22.2% during the 2nd 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 acquiring 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% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares during the period. Equity Investment Corp increased its stake in W. P. Carey by 38.9% in the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after purchasing an additional 412,450 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $57.06 on Monday. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The stock’s 50-day moving average is $58.36 and its two-hundred day moving average is $58.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.49 billion, a P/E ratio of 22.46, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS. Analysts predict that W. P. Carey Inc. will post 4.52 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 Tuesday, October 15th. Investors 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 6.13%. W. P. Carey’s dividend payout ratio is currently 137.80%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays boosted 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. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Scotiabank dropped their price target 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, Evercore ISI raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.