Carnegie Investment Counsel Sells 12,649 Shares of W. P. Carey Inc. (NYSE:WPC)

Carnegie Investment Counsel reduced its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,188 shares of the real estate investment trust's stock after selling 12,649 shares during the period. Carnegie Investment Counsel owned about 0.07% of W. P. Carey worth $8,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 172 shares in the last quarter. Kowal Investment Group LLC grew its stake in W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust's stock valued at $334,000 after purchasing an additional 199 shares in the last quarter. Harbour Investments Inc. increased its position in shares of W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock worth $226,000 after purchasing an additional 203 shares during the last quarter. Creative Planning raised its stake in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock worth $4,031,000 after purchasing an additional 207 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of W. P. Carey by 9.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust's stock valued at $152,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Stock Performance

NYSE:WPC traded up $0.27 during mid-day trading on Friday, hitting $55.81. 846,264 shares of the stock were exchanged, compared to its average volume of 1,092,833. The firm's 50-day simple moving average is $55.53 and its 200 day simple moving average is $57.80. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.42. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results 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). 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 the consensus estimate of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. The company's revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on WPC. UBS Group dropped 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 report on Thursday, November 14th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Thursday. Barclays reaffirmed an "underweight" rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.43.

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.