W. P. Carey Inc. (NYSE:WPC) CAO Sells $24,926.00 in Stock

W. P. Carey Inc. (NYSE:WPC) CAO Brian H. Zander sold 440 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $56.65, for a total value of $24,926.00. Following the completion of the transaction, the chief accounting officer now owns 7,237 shares of the company’s stock, valued at $409,976.05. This trade represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

W. P. Carey Stock Up 0.4 %

Shares of W. P. Carey stock opened at $57.10 on Monday. The company has a fifty day moving average price of $58.95 and a 200 day moving average price of $58.23. 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 $53.09 and a twelve month high of $67.40. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced its quarterly 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 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 company posted $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analysts Set New Price Targets

Several research analysts have weighed in on WPC shares. UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays boosted their price target 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. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI boosted their price objective on shares of 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. Finally, Scotiabank lowered 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 note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $62.88.

Hedge Funds Weigh In On W. P. Carey

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in W. P. Carey by 22.2% in 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 buying an additional 588,636 shares during the last quarter. Victory Capital Management Inc. boosted its position in W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after buying an additional 479,973 shares during the last quarter. Hsbc Holdings PLC boosted its position in W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after buying an additional 444,785 shares during the last quarter. Finally, Equity Investment Corp boosted its position in W. P. Carey by 38.9% in the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after buying an additional 412,450 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

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.