Cerity Partners LLC cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 52.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,911 shares of the real estate investment trust's stock after selling 27,211 shares during the quarter. Cerity Partners LLC's holdings in W. P. Carey were worth $1,552,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in WPC. Tidal Investments LLC acquired a new position in shares of W. P. Carey during the 1st quarter worth approximately $342,000. Atria Investments Inc lifted its position in shares of W. P. Carey by 21.7% during the 1st quarter. Atria Investments Inc now owns 19,449 shares of the real estate investment trust's stock valued at $1,098,000 after acquiring an additional 3,466 shares during the period. GAMMA Investing LLC raised its holdings in shares of W. P. Carey by 74.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,232 shares of the real estate investment trust's stock worth $123,000 after buying an additional 950 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after buying an additional 231 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of W. P. Carey by 6.2% during the 2nd quarter. DNB Asset Management AS now owns 36,400 shares of the real estate investment trust's stock worth $2,004,000 after buying an additional 2,138 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Evercore ISI upped 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. Barclays increased their price target 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 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group decreased their target price on 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $62.88.
Check Out Our Latest Stock Analysis on WPC
W. P. Carey Stock Performance
Shares of NYSE WPC traded down $0.07 during mid-day trading on Wednesday, hitting $55.74. The company had a trading volume of 1,332,819 shares, compared to its average volume of 1,206,988. The stock's 50-day moving average price is $58.06 and its 200-day moving average price is $58.12. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.04 and a beta of 0.96. 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 1 year low of $53.09 and a 1 year high of $67.40.
W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company 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 company's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, sell-side analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.
W. P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey's dividend payout ratio is 137.80%.
W. P. Carey Company Profile
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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.
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![Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=WPC)
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