W.P. Carey Inc. (NYSE:WPC) Shares Sold by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. cut its stake in W.P. Carey Inc. (NYSE:WPC) by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,510 shares of the real estate investment trust’s stock after selling 1,595 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in W.P. Carey were worth $285,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC increased its holdings in W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 163 shares during the last quarter. GF Fund Management CO. LTD. increased its holdings in W.P. Carey by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 168 shares in the last quarter. DF Dent & Co. Inc. grew its position in shares of W.P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 183 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of W.P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after purchasing an additional 193 shares during the last quarter. Finally, World Investment Advisors grew its holdings in W.P. Carey by 4.3% in the first quarter. World Investment Advisors now owns 6,909 shares of the real estate investment trust’s stock valued at $436,000 after purchasing an additional 284 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Trading Down 0.6%

Shares of WPC opened at $61.37 on Friday. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $62.40 and a two-hundred day simple moving average of $60.43. The stock has a market capitalization of $13.44 billion, a P/E ratio of 31.64, a PEG ratio of 6.08 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. During the same period in the prior year, the business posted $1.14 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.87%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey’s payout ratio is 185.57%.

Analysts Set New Price Targets

A number of research analysts have commented on WPC shares. Evercore ISI increased their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their price target on W.P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. BNP Paribas Exane upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price target for the company in a report on Monday, June 9th. UBS Group lowered their target price on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a “neutral” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of “Hold” and a consensus target price of $104.22.

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.