W. P. Carey Inc. (NYSE:WPC) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 93.3% during the 3rd quarter, Holdings Channel reports. The firm owned 92,347 shares of the real estate investment trust’s stock after selling 1,277,167 shares during the period. Daiwa Securities Group Inc.’s holdings in W. P. Carey were worth $5,753,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HB Wealth Management LLC lifted its holdings in W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after buying an additional 46,181 shares during the period. Equity Investment Corp boosted its position in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 9,353 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Evercore ISI increased their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada decreased their target price on shares of 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. Finally, UBS Group dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Eight 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 price target of $62.88.

W. P. Carey Price Performance

W. P. Carey stock opened at $56.84 on Wednesday. The firm has a fifty day moving average of $58.83 and a 200-day moving average of $58.22. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $12.44 billion, a P/E ratio of 22.38, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the business earned $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.16%. W. P. Carey’s payout ratio is 137.80%.

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.