Daiwa Securities Group Inc. Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

Daiwa Securities Group Inc. cut its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 93.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its position in W. P. Carey by 35.9% during 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 purchasing an additional 172 shares during the period. Catalytic Wealth RIA LLC grew its stake in shares of W. P. Carey by 5.2% during the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust's stock valued at $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC increased its position in shares of W. P. Carey by 3.4% during the 2nd 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 during the last quarter. Harbour Investments Inc. lifted its stake in shares of W. P. Carey by 5.9% in 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 period. Finally, Creative Planning grew its position in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock valued at $4,031,000 after buying an additional 207 shares during the period. Institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WPC shares. 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 research note on Tuesday, October 1st. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Finally, UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.88.

W. P. Carey Price Performance

NYSE WPC traded up $0.89 on Wednesday, reaching $57.73. The company had a trading volume of 414,363 shares, compared to its average volume of 1,206,956. The firm's 50 day moving average price is $58.70 and its 200 day moving average price is $58.21. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The stock has a market capitalization of $12.63 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its 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). The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share 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 $0.875 dividend. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.06%. W. P. Carey's dividend payout ratio (DPR) is currently 137.80%.

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.