Pacer Advisors Inc. lowered its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 5.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,200 shares of the real estate investment trust's stock after selling 11,002 shares during the period. Pacer Advisors Inc. owned approximately 0.09% of W. P. Carey worth $11,725,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in WPC. Massmutual Trust Co. FSB ADV boosted its holdings in W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 1,510.0% during 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 grew its position 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 buying an additional 357 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of W. P. Carey in the second quarter worth $34,000. Finally, Maia Wealth LLC acquired a new stake in W. P. Carey in the third quarter valued at $40,000. 73.73% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WPC opened at $57.10 on Friday. 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 cap of $12.50 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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's 50 day simple moving average is $58.95 and its 200 day simple moving average is $58.21.
W. P. Carey (NYSE:WPC - Get Free Report) last posted 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). The company had revenue of $394.78 million during 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 business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 earnings per share. Equities research analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is presently 137.80%.
Several research analysts have weighed in on WPC shares. Barclays raised their price objective on shares of 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 reiterated an "equal weight" rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Evercore ISI lifted their target price on 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. Finally, Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $62.88.
Read Our Latest Stock Analysis on WPC
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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