Pathstone Holdings LLC Cuts Holdings in W. P. Carey Inc. (NYSE:WPC)

Pathstone Holdings LLC lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,831 shares of the real estate investment trust’s stock after selling 1,817 shares during the quarter. Pathstone Holdings LLC’s holdings in W. P. Carey were worth $1,299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP grew its stake in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new position in W. P. Carey in the second quarter valued at $34,000. Finally, EdgeRock Capital LLC acquired a new stake in W. P. Carey in the second quarter valued at $39,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

NYSE WPC opened at $57.51 on Friday. The firm has a market cap of $12.59 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The business’s 50-day moving average price is $58.58 and its 200 day moving average price is $58.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last released 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 period in the previous year, the firm posted $1.32 EPS. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 6.09%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is 137.80%.

Analyst Ratings Changes

A number of research analysts have recently commented on WPC shares. Royal Bank of Canada dropped 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. Barclays raised their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Scotiabank cut their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. 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 presently has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey 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.