Pacer Advisors Inc. Sells 11,002 Shares of W. P. Carey Inc. (NYSE:WPC)

Pacer Advisors Inc. trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,200 shares of the real estate investment trust’s stock after selling 11,002 shares during the quarter. Pacer Advisors Inc. owned 0.09% of W. P. Carey worth $11,725,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WPC. Massmutual Trust Co. FSB ADV increased its holdings in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of W. P. Carey by 1,510.0% during the second 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 period. Quarry LP raised its holdings in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new stake in W. P. Carey in the second quarter worth about $34,000. Finally, Maia Wealth LLC bought a new position in W. P. Carey during the 3rd quarter worth about $40,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $57.10 on Friday. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a market cap of $12.50 billion, a PE ratio of 22.48, a P/E/G ratio of 1.06 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 business has a 50-day simple moving average of $58.95 and a two-hundred day simple moving average of $58.21.

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 analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities analysts expect that W. P. Carey Inc. will post 4.52 EPS 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 given a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Evercore ISI increased their target price 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. 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 report on Tuesday, October 1st. Scotiabank decreased their price objective on 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. Finally, Barclays lifted their target price on 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 equities 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.com, W. P. Carey presently has an average rating of “Hold” and an average price target of $62.88.

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.