International Assets Investment Management LLC Sells 400,709 Shares of W. P. Carey Inc. (NYSE:WPC)

International Assets Investment Management LLC reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 98.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,595 shares of the real estate investment trust’s stock after selling 400,709 shares during the quarter. International Assets Investment Management LLC’s holdings in W. P. Carey were worth $358,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedbush Securities Inc. bought a new position in W. P. Carey in the 2nd quarter worth about $209,000. Choreo LLC purchased a new stake in shares of W. P. Carey in the 2nd quarter worth $418,000. Royal London Asset Management Ltd. grew its position in shares of W. P. Carey by 6.8% during the 2nd quarter. Royal London Asset Management Ltd. now owns 112,189 shares of the real estate investment trust’s stock worth $6,176,000 after buying an additional 7,104 shares in the last quarter. LPL Financial LLC raised its holdings in shares of W. P. Carey by 6.0% in the second quarter. LPL Financial LLC now owns 767,971 shares of the real estate investment trust’s stock valued at $42,277,000 after acquiring an additional 43,264 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in W. P. Carey by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock worth $3,512,000 after acquiring an additional 4,766 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.6 %

W. P. Carey stock opened at $53.93 on Friday. 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 firm has a market cap of $11.80 billion, a PE ratio of 21.23, a P/E/G ratio of 1.04 and a beta of 0.97. The stock’s 50 day simple moving average is $55.62 and its two-hundred day simple moving average is $57.84. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40.

W. P. Carey (NYSE:WPCGet Free Report) 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 business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.32 earnings per share. Analysts anticipate that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.53%. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPC. Barclays reiterated an “underweight” rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. UBS Group decreased their price objective on 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. Evercore ISI boosted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reiterated 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.57.

View Our Latest Stock Analysis on W. P. Carey

W. P. Carey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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