Pacer Advisors Inc. cut its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 16.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,876 shares of the real estate investment trust's stock after selling 31,324 shares during the quarter. Pacer Advisors Inc. owned 0.07% of W. P. Carey worth $8,547,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in WPC. Geode Capital Management LLC lifted its holdings in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock worth $284,426,000 after acquiring an additional 127,477 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of W. P. Carey by 4.1% in the 3rd 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 purchasing an additional 103,147 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of W. P. Carey by 660.9% during 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 purchasing an additional 1,784,131 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of W. P. Carey by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after buying an additional 264,230 shares during the period. Finally, Equity Investment Corp raised its stake in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock worth $92,305,000 after buying an additional 9,610 shares during the period. Institutional investors own 73.73% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on WPC shares. Barclays reissued an "underweight" rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Friday, January 10th. Scotiabank dropped their price objective on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a report on Thursday, January 16th. Finally, UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $62.43.
Read Our Latest Analysis on WPC
W. P. Carey Price Performance
Shares of NYSE WPC traded up $0.92 during midday trading on Thursday, hitting $55.62. 782,482 shares of the company's stock were exchanged, compared to its average volume of 993,989. The business's fifty day moving average price is $55.49 and its two-hundred day moving average price is $57.82. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.00 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26.
W. P. Carey (NYSE:WPC - Get Free Report) 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 return on equity of 6.45% and a net margin of 35.12%. The company 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 company earned $1.32 EPS. W. P. Carey's quarterly revenue was down 11.9% on a year-over-year basis. As a group, research analysts forecast that W. P. Carey Inc. will post 4.49 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.33%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 138.58%.
W. P. Carey Company Profile
(
Free Report)
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.
Further Reading
Before you consider W. P. Carey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W. P. Carey wasn't on the list.
While W. P. Carey currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
