Exchange Traded Concepts LLC Sells 9,050 Shares of W. P. Carey Inc. (NYSE:WPC)

Exchange Traded Concepts LLC lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 11.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 73,425 shares of the real estate investment trust’s stock after selling 9,050 shares during the period. Exchange Traded Concepts LLC’s holdings in W. P. Carey were worth $4,000,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Impact Partnership Wealth LLC increased its holdings in shares of W. P. Carey by 3.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after acquiring an additional 289 shares during the last quarter. RFG Advisory LLC boosted its position in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 3,049 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of W. P. Carey by 4.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 24,037 shares of the real estate investment trust’s stock valued at $1,310,000 after purchasing an additional 1,104 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of W. P. Carey by 2.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 149,254 shares of the real estate investment trust’s stock valued at $8,131,000 after purchasing an additional 3,416 shares during the period. Finally, XML Financial LLC lifted its stake in shares of W. P. Carey by 4.7% during the 4th quarter. XML Financial LLC now owns 36,463 shares of the real estate investment trust’s stock worth $1,986,000 after buying an additional 1,646 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC opened at $55.24 on Friday. The firm has a market cap of $12.09 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The business’s fifty day moving average is $55.53 and its 200-day moving average is $57.85. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.81. 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 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the prior year, the business earned $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts expect that W. P. Carey Inc. will post 4.49 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.37%. W. P. Carey’s dividend payout ratio is presently 138.58%.

Analysts Set New Price Targets

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

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.