W. P. Carey Inc. (NYSE:WPC) Shares Sold by MAI Capital Management

Posted by Defense World Staff on Aug 24th, 2023

MAI Capital Management cut its holdings in W. P. Carey Inc. (NYSE:WPC – Free Report) by 21.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,848 shares of the real estate investment trust’s stock after selling 1,555 shares during the quarter. MAI Capital Management’s holdings in W. P. Carey were worth $453,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. TruWealth Advisors LLC increased its stake in W. P. Carey by 1.4% in the 1st quarter. TruWealth Advisors LLC now owns 158,007 shares of the real estate investment trust’s stock valued at $12,238,000 after buying an additional 2,250 shares during the period. Ameritas Advisory Services LLC raised its holdings in W. P. Carey by 111.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 12,184 shares of the real estate investment trust’s stock worth $952,000 after purchasing an additional 6,413 shares in the last quarter. Credit Suisse AG lifted its position in W. P. Carey by 31.5% in the fourth quarter. Credit Suisse AG now owns 424,698 shares of the real estate investment trust’s stock valued at $33,190,000 after purchasing an additional 101,666 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in W. P. Carey by 6.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,181 shares of the real estate investment trust’s stock worth $711,000 after purchasing an additional 552 shares during the period. Finally, City State Bank raised its stake in shares of W. P. Carey by 31.7% during the 1st quarter. City State Bank now owns 682 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 164 shares in the last quarter. 63.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on WPC

W. P. Carey Trading Up 1.3 %

Shares of WPC opened at $65.00 on Thursday. W. P. Carey Inc. has a 1-year low of $63.10 and a 1-year high of $87.30. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a 50 day simple moving average of $68.05 and a 200-day simple moving average of $72.84. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 7.07 and a beta of 0.76.

W. P. Carey (NYSE:WPC – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $452.60 million for the quarter, compared to analysts’ expectations of $430.48 million. During the same period in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 31.4% on a year-over-year basis. Equities analysts forecast that W. P. Carey Inc. will post 5.21 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $1.069 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. This represents a $4.28 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, June 29th. W. P. Carey’s dividend payout ratio (DPR) is currently 119.89%.

About W. P. Carey

(Free Report)

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.