Burney Co. Sells 2,288 Shares of W. P. Carey Inc. (NYSE:WPC)

Burney Co. cut its stake in W. P. Carey Inc. (NYSE:WPC) by 32.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,801 shares of the real estate investment trust’s stock after selling 2,288 shares during the period. Burney Co.’s holdings in W. P. Carey were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares during the period. Dimensional Fund Advisors LP raised its position 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 during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% in the third 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 acquiring an additional 1,784,131 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after acquiring an additional 264,230 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WPC. Barclays restated an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Scotiabank decreased their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average target price of $62.43.

W. P. Carey Trading Up 0.5 %

Shares of W. P. Carey stock opened at $55.81 on Friday. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.97 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.42. The firm’s 50-day moving average price is $55.51 and its two-hundred day moving average price is $57.82.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, analysts forecast that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.31%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 138.58%.

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.