Sanctuary Advisors LLC Has $2.03 Million Position in W. P. Carey Inc. (NYSE:WPC)

Sanctuary Advisors LLC cut its position in W. P. Carey Inc. (NYSE:WPC) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,582 shares of the real estate investment trust’s stock after selling 585 shares during the quarter. Sanctuary Advisors LLC’s holdings in W. P. Carey were worth $2,032,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the last quarter. Quarry LP increased its position in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares during the period. Maia Wealth LLC bought a new position in shares of W. P. Carey during the third quarter valued at $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the period. Finally, Abich Financial Wealth Management LLC grew its stake in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on WPC shares. Barclays reaffirmed 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. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Monday. UBS Group lowered their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Evercore ISI boosted 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 report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Price Performance

W. P. Carey stock opened at $54.21 on Thursday. The stock’s 50 day moving average price is $57.02 and its two-hundred day moving average price is $58.03. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.04 and a beta of 0.96. 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 Inc. has a 52-week low of $53.09 and a 52-week high of $67.40.

W. P. Carey (NYSE:WPC) last posted 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 analyst estimates of $377.43 million. During the same quarter in the previous year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts predict that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 6.49%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

About W. P. Carey

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.