First Trust Advisors LP Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

Posted by Defense World Staff on Jun 3rd, 2023

First Trust Advisors LP reduced its position in shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) by 65.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,499 shares of the real estate investment trust’s stock after selling 54,677 shares during the period. First Trust Advisors LP’s holdings in W. P. Carey were worth $2,305,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WPC. Victory Capital Management Inc. raised its stake in W. P. Carey by 26.7% in the fourth quarter. Victory Capital Management Inc. now owns 114,145 shares of the real estate investment trust’s stock worth $9,763,000 after buying an additional 24,021 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in W. P. Carey by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,752,880 shares of the real estate investment trust’s stock worth $215,138,000 after buying an additional 193,465 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in W. P. Carey in the fourth quarter worth about $714,000. Sowell Financial Services LLC bought a new position in shares of W. P. Carey during the fourth quarter valued at approximately $1,405,000. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of W. P. Carey by 5.6% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 13,200 shares of the real estate investment trust’s stock valued at $1,032,000 after purchasing an additional 700 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Up 2.0 %

Shares of WPC stock opened at $70.61 on Friday. The company has a market capitalization of $15.10 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 8.69 and a beta of 0.77. W. P. Carey Inc. has a one year low of $66.76 and a one year high of $89.63. The company’s fifty day moving average price is $72.30 and its 200-day moving average price is $77.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.11 and a quick ratio of 0.11.

W. P. Carey (NYSE:WPC – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The real estate investment trust reported $1.39 EPS for the quarter, beating the consensus estimate of $1.27 by $0.12. The firm had revenue of $427.80 million for the quarter, compared to the consensus estimate of $406.24 million. W. P. Carey had a net margin of 47.26% and a return on equity of 8.47%. The company’s revenue was up 24.3% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 5.18 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were given a dividend of $1.067 per share. This represents a $4.27 annualized dividend and a dividend yield of 6.04%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date was Thursday, March 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 119.66%.

Analyst Ratings Changes

A number of brokerages have weighed in on WPC. Royal Bank of Canada raised their target price on shares of W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. StockNews.com started coverage on shares of W. P. Carey in a report on Thursday, May 18th. They issued a “hold” rating on the stock. JMP Securities restated a “market outperform” rating and issued a $86.00 target price on shares of W. P. Carey in a report on Tuesday, March 21st. Finally, 92 Resources restated a “maintains” rating on shares of W. P. Carey in a report on Monday, May 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

Insider Activity

In related news, Director Mark A. Alexander purchased 1,000 shares of W. P. Carey stock in a transaction on Tuesday, May 2nd. The shares were bought at an average cost of $72.48 per share, for a total transaction of $72,480.00. Following the acquisition, the director now owns 26,118 shares in the company, valued at approximately $1,893,032.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

W. P. Carey Company Profile

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W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.

Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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