W. P. Carey Inc. (NYSE:WPC) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 29.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,479 shares of the real estate investment trust’s stock after selling 105,291 shares during the quarter. Cetera Investment Advisers owned 0.12% of W. P. Carey worth $13,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WPC. Norges Bank bought a new stake in W. P. Carey during the fourth quarter worth approximately $139,381,000. Demars Financial Group LLC boosted its stake in shares of W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of W. P. Carey by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after purchasing an additional 906,622 shares during the period. Northern Trust Corp lifted its holdings in shares of W. P. Carey by 40.3% during the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after purchasing an additional 758,627 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of W. P. Carey in the 4th quarter valued at $31,442,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of analyst reports. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI raised their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Scotiabank raised their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.50.

W. P. Carey Stock Up 1.7 %

WPC opened at $61.79 on Friday. The company has a market capitalization of $13.53 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. The business has a 50-day moving average of $61.29 and a 200-day moving average of $58.27. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the firm earned $1.14 earnings per share. W. P. Carey’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.76%. The ex-dividend date was Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 183.51%.

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.