Concord Wealth Partners Lowers Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Concord Wealth Partners trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,447 shares of the real estate investment trust’s stock after selling 1,365 shares during the period. Concord Wealth Partners’ holdings in W. P. Carey were worth $418,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPC. Daiwa Securities Group Inc. boosted its stake in shares of W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after purchasing an additional 1,124,010 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in W. P. Carey during the 3rd quarter worth approximately $613,000. Arizona State Retirement System boosted its position in W. P. Carey by 0.8% in the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock valued at $3,811,000 after buying an additional 439 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in W. P. Carey by 5.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock valued at $11,852,000 after buying an additional 10,562 shares during the period. Finally, State of Michigan Retirement System acquired a new position in shares of W. P. Carey in the fourth quarter worth $3,403,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPC. Royal Bank of Canada reduced their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company lowered their price objective on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. StockNews.com started coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Finally, Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average price target of $63.36.

W. P. Carey Stock Down 0.4 %

Shares of NYSE:WPC opened at $54.63 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $55.87 and a 200-day simple moving average of $58.85. The company has a market capitalization of $11.95 billion, a PE ratio of 20.78, a P/E/G ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.79.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.35%. The company had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same quarter in the prior year, the firm posted $1.29 earnings per share. W. P. Carey’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that W. P. Carey Inc. will post 4.56 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.33%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is currently 131.56%.

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.