WealthPLAN Partners LLC Sells 8,224 Shares of W. P. Carey Inc. (NYSE:WPC)

WealthPLAN Partners LLC decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 38.7% in the third quarter, Holdings Channel.com reports. The fund owned 13,034 shares of the real estate investment trust’s stock after selling 8,224 shares during the period. WealthPLAN Partners LLC’s holdings in W. P. Carey were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WPC. Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after purchasing an additional 187,022 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after acquiring an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp raised its stake in W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after purchasing an additional 7,549 shares in the last quarter. Finally, PGGM Investments lifted its position in W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after purchasing an additional 389,853 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WPC shares. Royal Bank of Canada decreased their price objective on 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. Evercore ISI increased their price target 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. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. 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 report on Tuesday, October 1st. Finally, Barclays lifted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Price Performance

Shares of WPC stock opened at $55.72 on Tuesday. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.06 and a beta of 0.95. 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 Inc. has a twelve month low of $53.01 and a twelve month high of $67.40. The stock has a fifty day simple moving average of $59.96 and a two-hundred day simple moving average of $58.23.

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). 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 analysts’ expectations of $377.43 million. During the same period last year, the business posted $1.32 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.28%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 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.