Citigroup Inc. Has $18.55 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Citigroup Inc. lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 9.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,687 shares of the real estate investment trust’s stock after selling 32,103 shares during the quarter. Citigroup Inc.’s holdings in W. P. Carey were worth $18,546,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its stake in 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 worth $41,000 after purchasing an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC increased its holdings in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC raised its position in shares of W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 199 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of W. P. Carey by 5.9% in the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 203 shares during the period. Finally, Creative Planning grew its position in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after buying an additional 207 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.2 %

Shares of W. P. Carey stock opened at $56.84 on Wednesday. The firm’s 50 day moving average is $58.83 and its 200 day moving average is $58.22. The firm has a market capitalization of $12.44 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year 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.

W. P. Carey (NYSE:WPC) last posted its 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 return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts forecast 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 dividend on an annualized basis and a dividend yield of 6.16%. 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 dividend payout ratio (DPR) is presently 137.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WPC. Barclays lifted their price objective 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. Scotiabank cut their price objective 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. UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report 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 company an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.