Concord Wealth Partners Decreases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Concord Wealth Partners cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,447 shares of the real estate investment trust’s stock after selling 1,365 shares during the quarter. Concord Wealth Partners’ holdings in W. P. Carey were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Daiwa Securities Group Inc. raised its stake in shares of W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after acquiring an additional 1,124,010 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in W. P. Carey in the 3rd quarter worth approximately $613,000. Arizona State Retirement System grew its position in shares of W. P. Carey by 0.8% in the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock worth $3,811,000 after buying an additional 439 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of W. P. Carey by 5.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock valued at $11,852,000 after buying an additional 10,562 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in W. P. Carey in the fourth quarter worth $3,403,000. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WPC shares. Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective for the company. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. StockNews.com assumed coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Scotiabank dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Finally, Royal Bank of Canada lowered their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.36.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $54.63 on Thursday. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.79. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.44 and a beta of 0.86. The firm’s 50-day moving average is $55.87 and its 200 day moving average is $58.85.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 6.35% and a net margin of 33.65%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. Sell-side analysts anticipate that W. P. Carey Inc. will post 4.56 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is currently 131.56%.

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.