W. P. Carey Inc. (NYSE:WPC) Stake Reduced by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 52.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,911 shares of the real estate investment trust’s stock after selling 27,211 shares during the quarter. Cerity Partners LLC’s holdings in W. P. Carey were worth $1,552,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WPC. HB Wealth Management LLC increased its holdings in shares of W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares during the period. Equity Investment Corp boosted its stake in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares in the last quarter. SG Americas Securities LLC increased its position in shares of W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 46,181 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 9,353 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after buying an additional 9,619 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Down 0.4 %

Shares of NYSE:WPC opened at $55.81 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $12.21 billion, a PE ratio of 21.97, a P/E/G ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company’s fifty day moving average is $58.21 and its 200-day moving average is $58.15.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for 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. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 137.80%.

Analyst Ratings Changes

WPC has been the topic of several recent research reports. UBS Group lowered their price objective 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, November 14th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank reduced their price target 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. Barclays lifted their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.88.

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.