W. P. Carey Inc. (NYSE:WPC) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WPC. Quarry LP grew its stake in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the 3rd quarter worth about $40,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research analyst reports. UBS Group cut 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, November 14th. Scotiabank cut their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, Barclays reiterated an “underweight” rating and set a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average target price of $62.43.

W. P. Carey Price Performance

Shares of WPC opened at $54.79 on Thursday. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The firm has a 50-day simple moving average of $55.49 and a 200-day simple moving average of $57.82. 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 (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.49 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.43%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 138.58%.

W. P. Carey 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.