Main Street Financial Solutions LLC Sells 472 Shares of W. P. Carey Inc. (NYSE:WPC)

Main Street Financial Solutions LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,801 shares of the real estate investment trust’s stock after selling 472 shares during the quarter. Main Street Financial Solutions LLC’s holdings in W. P. Carey were worth $361,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WPC. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares in the last quarter. Victory Capital Management Inc. grew its holdings in W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after acquiring an additional 479,973 shares in the last quarter. Hsbc Holdings PLC increased its position in W. P. Carey by 185.7% during the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after purchasing an additional 444,785 shares during the period. Equity Investment Corp raised its holdings in shares of W. P. Carey by 38.9% in the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock valued at $81,035,000 after purchasing an additional 412,450 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of WPC stock opened at $54.84 on Friday. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $59.63 and its 200-day simple moving average is $58.19. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40.

W. P. Carey (NYSE:WPC) last issued its quarterly 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 for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the company posted $1.32 EPS. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WPC. Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Scotiabank reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, UBS Group lowered their price target 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.88.

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.