W. P. Carey Inc. (NYSE:WPC) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 20.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,161 shares of the real estate investment trust’s stock after selling 2,155 shares during the period. Sigma Planning Corp’s holdings in W. P. Carey were worth $508,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV increased its position in W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 231 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP grew its stake in shares of W. P. Carey by 175.9% in 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 during the last quarter. Lynx Investment Advisory purchased a new position in shares of W. P. Carey in the 2nd quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of W. P. Carey in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPC. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays lifted their target price on 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 target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Scotiabank decreased 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 note on Wednesday, August 7th. Eight 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.com, W. P. Carey currently has an average rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Down 1.0 %

WPC opened at $54.84 on Friday. The business’s fifty day moving average is $59.63 and its two-hundred day moving average is $58.19. 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 cap of $12.00 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results 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 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%. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.38%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is 137.80%.

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.