W. P. Carey Inc. (NYSE:WPC) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 18.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 66,247 shares of the real estate investment trust’s stock after selling 15,411 shares during the quarter. Gateway Investment Advisers LLC’s holdings in W. P. Carey were worth $3,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after buying an additional 204,064 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of W. P. Carey by 660.9% in 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 worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in W. P. Carey by 21.1% in the third 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. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on WPC shares. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Barclays restated an “underweight” rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Scotiabank decreased their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Trading Up 0.5 %

Shares of WPC opened at $55.81 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $12.21 billion, a PE ratio of 21.97, a PEG ratio of 0.97 and a beta of 0.97. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.42. The stock has a 50 day simple moving average of $55.51 and a 200-day simple moving average of $57.81.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the firm posted $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.31%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

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.