W. P. Carey Inc. (NYSE:WPC) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC lessened its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,089 shares of the real estate investment trust’s stock after selling 578 shares during the quarter. Curi RMB Capital LLC’s holdings in W. P. Carey were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV grew its position in W. P. Carey by 746.6% during the third quarter. KBC Group NV now owns 149,820 shares of the real estate investment trust’s stock valued at $9,334,000 after buying an additional 132,124 shares during the period. Pinnacle Financial Partners Inc lifted its holdings in W. P. Carey by 14.5% during the third quarter. Pinnacle Financial Partners Inc now owns 11,050 shares of the real estate investment trust’s stock valued at $688,000 after purchasing an additional 1,400 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares in the last quarter. First Heartland Consultants Inc. purchased a new position in W. P. Carey during the third quarter valued at $208,000. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in W. P. Carey by 36.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 27,859 shares of the real estate investment trust’s stock valued at $1,736,000 after purchasing an additional 7,367 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group decreased their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday. Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Evercore ISI raised their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

Shares of WPC stock opened at $55.77 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $59.52 and its two-hundred day moving average is $58.19. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a market capitalization of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last issued 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the firm earned $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date of this dividend 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 6.28%. W. P. Carey’s payout ratio is 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.