Bessemer Group Inc. Sells 3,940 Shares of W. P. Carey Inc. (NYSE:WPC)

Posted by Defense World Staff on Aug 22nd, 2023

Bessemer Group Inc. cut its position in W. P. Carey Inc. (NYSE:WPC – Free Report) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,295 shares of the real estate investment trust’s stock after selling 3,940 shares during the quarter. Bessemer Group Inc.’s holdings in W. P. Carey were worth $875,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SouthState Corp raised its stake in shares of W. P. Carey by 6.7% during the 4th quarter. SouthState Corp now owns 1,928 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 121 shares during the period. Capital Analysts LLC raised its stake in shares of W. P. Carey by 18.6% during the 4th quarter. Capital Analysts LLC now owns 829 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 130 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of W. P. Carey by 20.6% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 134 shares during the period. Main Street Financial Solutions LLC raised its stake in shares of W. P. Carey by 3.0% during the 4th quarter. Main Street Financial Solutions LLC now owns 4,899 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 141 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in shares of W. P. Carey by 1.5% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 9,857 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 145 shares during the period. 63.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WPC. Bank of America lowered W. P. Carey from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $78.00 to $67.00 in a research note on Monday, August 14th. StockNews.com started coverage on W. P. Carey in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada reduced their target price on W. P. Carey from $81.00 to $79.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. JMP Securities reduced their target price on W. P. Carey from $86.00 to $80.00 in a research report on Friday, June 23rd. Finally, BNP Paribas started coverage on W. P. Carey in a research report on Wednesday, June 14th. They set an “underperform” rating and a $74.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.67.

Check Out Our Latest Research Report on WPC

W. P. Carey Price Performance

WPC opened at $63.71 on Tuesday. The stock has a 50-day moving average price of $68.28 and a 200-day moving average price of $73.03. W. P. Carey Inc. has a 12-month low of $63.10 and a 12-month high of $87.65. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $13.63 billion, a P/E ratio of 17.85, a PEG ratio of 7.09 and a beta of 0.76.

W. P. Carey (NYSE:WPC – Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.62). W. P. Carey had a return on equity of 8.28% and a net margin of 45.21%. The firm had revenue of $452.60 million during the quarter, compared to analysts’ expectations of $430.48 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. W. P. Carey’s revenue for the quarter was up 31.4% compared to the same quarter last year. Equities analysts predict that W. P. Carey Inc. will post 5.21 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a dividend of $1.069 per share. The ex-dividend date of this dividend was Thursday, June 29th. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. This represents a $4.28 annualized dividend and a yield of 6.71%. W. P. Carey’s dividend payout ratio is currently 119.89%.

W. P. Carey Company Profile

(Free Report)

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $25 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,446 net lease properties covering approximately 176 million square feet and a portfolio of 84 self-storage operating properties, as of March 31, 2023.