HBW Advisory Services LLC Sells 3,583 Shares of W. P. Carey Inc. (NYSE:WPC)

HBW Advisory Services LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 85.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 589 shares of the real estate investment trust’s stock after selling 3,583 shares during the quarter. HBW Advisory Services LLC’s holdings in W. P. Carey were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of W. P. Carey by 2.9% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in W. P. Carey by 22.2% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after buying an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 acquiring an additional 1,784,131 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WPC shares. Evercore ISI boosted their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday. Barclays reiterated an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus target price of $62.57.

W. P. Carey Trading Down 1.6 %

NYSE:WPC opened at $53.93 on Friday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $55.62 and its 200-day moving average is $57.84. The firm has a market cap of $11.80 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last issued its quarterly 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 firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the company posted $1.32 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. Equities analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

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