W. P. Carey Inc. (NYSE:WPC) CAO Sells $24,926.00 in Stock

W. P. Carey Inc. (NYSE:WPC) CAO Brian H. Zander sold 440 shares of W. P. Carey stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $56.65, for a total transaction of $24,926.00. Following the transaction, the chief accounting officer now owns 7,237 shares in the company, valued at $409,976.05. This represents a 5.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

W. P. Carey Stock Up 0.4 %

Shares of WPC opened at $57.10 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The business’s 50 day simple moving average is $58.95 and its 200-day simple moving average is $58.21.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the firm posted $1.32 EPS. The company’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 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.13%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPC. HB Wealth Management LLC lifted its stake in shares of W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares during the last quarter. SG Americas Securities LLC lifted its position in W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after buying an additional 46,181 shares during the last quarter. Equity Investment Corp boosted its stake in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after buying an additional 9,610 shares during the period. EverSource Wealth Advisors LLC boosted its stake in W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 9,353 shares during the period. Finally, QRG Capital Management Inc. increased its position in W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after acquiring an additional 9,619 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the topic of several analyst reports. 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 report on Thursday, October 10th. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. 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 on the stock in a report on Thursday, August 1st. Finally, Evercore ISI upped their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.