Centaurus Financial Inc. Sells 301 Shares of W. P. Carey Inc. (NYSE:WPC)

Centaurus Financial Inc. lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,086 shares of the real estate investment trust’s stock after selling 301 shares during the period. Centaurus Financial Inc.’s holdings in W. P. Carey were worth $379,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC lifted its position in shares of W. P. Carey by 21.0% in the 3rd quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 3,884 shares during the period. Charles Schwab Investment Management Inc. raised its stake in W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in W. P. Carey by 3.8% in the third quarter. EverSource Wealth Advisors LLC now owns 23,677 shares of the real estate investment trust’s stock worth $1,475,000 after buying an additional 858 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of W. P. Carey during the 3rd quarter worth approximately $640,000. Finally, Napa Wealth Management raised its position in shares of W. P. Carey by 19.8% in the 3rd quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 778 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

W. P. Carey Trading Down 1.2 %

NYSE:WPC opened at $56.84 on Wednesday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.06 and a beta of 0.95. The company’s 50 day moving average price is $58.83 and its 200-day moving average price is $58.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted 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). The business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business 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 was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.16%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 137.80%.

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.