W. P. Carey Inc. (NYSE:WPC) Shares Sold by Creekmur Asset Management LLC

Creekmur Asset Management LLC lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 44.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 721 shares of the real estate investment trust’s stock after selling 580 shares during the quarter. Creekmur Asset Management LLC’s holdings in W. P. Carey were worth $41,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after buying an additional 187,022 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares in the last quarter. Daiwa Securities Group Inc. grew 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 buying an additional 1,124,010 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock valued at $196,902,000 after buying an additional 43,959 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 14.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock valued at $170,032,000 after purchasing an additional 338,194 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.4 %

Shares of W. P. Carey stock traded up $0.25 during midday trading on Thursday, hitting $58.06. The company’s stock had a trading volume of 187,316 shares, compared to its average volume of 1,295,716. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.75. The stock has a 50-day simple moving average of $56.80 and a 200-day simple moving average of $57.53. The firm has a market capitalization of $12.70 billion, a P/E ratio of 21.99, a PEG ratio of 1.13 and a beta of 0.93.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.46% and a net margin of 34.83%. The firm had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. W. P. Carey’s revenue was down 13.9% on a year-over-year basis. As a group, sell-side analysts expect that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 5.99%. The ex-dividend date was Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is 132.32%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. cut their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company cut their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. UBS Group lifted their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.00.

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.