W. P. Carey Inc. (NYSE:WPC) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 20.9% in the third quarter, HoldingsChannel.com reports. The fund owned 8,161 shares of the real estate investment trust’s stock after selling 2,155 shares during the quarter. Sigma Planning Corp’s holdings in W. P. Carey were worth $508,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC increased its stake in W. P. Carey by 247.3% in the second 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 increased its stake 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 valued at $9,742,000 after purchasing an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in W. P. Carey by 9.8% in 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 purchasing an additional 9,619 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

WPC stock opened at $54.84 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The firm has a market cap of $12.00 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The stock has a 50-day simple moving average of $59.63 and a 200-day simple moving average of $58.19.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the business posted $1.32 EPS. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.38%. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Analyst Ratings Changes

Several research firms recently commented on WPC. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.88.

About W. P. Carey

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.