International Assets Investment Management LLC Sells 400,709 Shares of W. P. Carey Inc. (NYSE:WPC)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in WPC. Quarry LP increased its stake in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 357 shares during the last quarter. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $40,000. Massmutual Trust Co. FSB ADV raised its holdings in W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 616 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of analyst reports. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. UBS Group cut 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 note on Thursday, November 14th. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research note on Friday. Barclays reaffirmed an "underweight" rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. One 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 MarketBeat, W. P. Carey presently has a consensus rating of "Hold" and a consensus target price of $62.57.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded down $0.85 on Friday, reaching $53.93. 1,445,314 shares of the stock were exchanged, compared to its average volume of 1,196,618. 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 has a market cap of $11.80 billion, a PE ratio of 21.23, a P/E/G ratio of 1.04 and a beta of 0.97. The firm's 50 day moving average is $55.62 and its 200-day moving average is $57.86. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its 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 net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the business posted $1.32 EPS. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid 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 dividend yield of 6.53%. The ex-dividend date of this dividend is Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is presently 138.58%.

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.