International Assets Investment Management LLC Cuts Position in W. P. Carey Inc. (NYSE:WPC)

International Assets Investment Management LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 98.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,595 shares of the real estate investment trust’s stock after selling 400,709 shares during the period. International Assets Investment Management LLC’s holdings in W. P. Carey were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wedbush Securities Inc. purchased a new stake in shares of W. P. Carey in the 2nd quarter valued at $209,000. Choreo LLC purchased a new stake in shares of W. P. Carey during the second quarter valued at approximately $418,000. Royal London Asset Management Ltd. grew its holdings in shares of W. P. Carey by 6.8% in the second quarter. Royal London Asset Management Ltd. now owns 112,189 shares of the real estate investment trust’s stock worth $6,176,000 after purchasing an additional 7,104 shares during the last quarter. LPL Financial LLC increased its position in shares of W. P. Carey by 6.0% in the second quarter. LPL Financial LLC now owns 767,971 shares of the real estate investment trust’s stock valued at $42,277,000 after acquiring an additional 43,264 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of W. P. Carey by 8.1% in the second quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock worth $3,512,000 after purchasing an additional 4,766 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $53.93 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $55.62 and a 200-day moving average price of $57.84. The stock has a market cap of $11.80 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40.

W. P. Carey (NYSE:WPC) last released 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). The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm posted $1.32 EPS. Equities analysts anticipate that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.88 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.53%. W. P. Carey’s dividend payout ratio is presently 138.58%.

Analysts Set New Price Targets

WPC has been the subject of a number of recent analyst reports. Barclays restated an “underweight” rating and set a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday. Finally, UBS Group cut their target price on 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average price target of $62.57.

W. P. Carey 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.