Private Trust Co. NA Has $215,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Private Trust Co. NA trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,447 shares of the real estate investment trust’s stock after selling 1,078 shares during the period. Private Trust Co. NA’s holdings in W. P. Carey were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Horizon Kinetics Asset Management LLC raised its holdings in W. P. Carey by 57.5% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 33,700 shares of the real estate investment trust’s stock valued at $2,100,000 after acquiring an additional 12,300 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter worth $155,000. Penserra Capital Management LLC increased its position in shares of W. P. Carey by 21.0% in the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 3,884 shares during the period. Charles Schwab Investment Management Inc. raised its stake in W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in W. P. Carey by 3.8% during the third quarter. EverSource Wealth Advisors LLC now owns 23,677 shares of the real estate investment trust’s stock worth $1,475,000 after purchasing an additional 858 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPC has been the topic of several recent analyst reports. 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 report on Tuesday, October 1st. Scotiabank decreased their price objective on shares of 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. UBS Group cut their target price 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. Royal Bank of Canada decreased their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays boosted their price target on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Up 1.2 %

Shares of WPC opened at $57.51 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.07 and a beta of 0.95. The stock has a fifty day moving average of $58.58 and a 200-day moving average of $58.21.

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 the consensus estimate 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 firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the business posted $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.09%. This is a positive change 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 presently 137.80%.

W. P. Carey Company 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.