W.P. Carey Inc. $WPC Shares Sold by RB Capital Management LLC

RB Capital Management LLC reduced its position in shares of W.P. Carey Inc. (NYSE:WPC) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,087 shares of the real estate investment trust’s stock after selling 976 shares during the period. RB Capital Management LLC’s holdings in W.P. Carey were worth $826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. JPMorgan Chase & Co. increased its position in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after purchasing an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. boosted its stake in W.P. Carey by 1,016.8% during the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock worth $110,564,000 after buying an additional 1,595,045 shares during the period. Northern Trust Corp boosted its stake in 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 worth $143,894,000 after buying an additional 758,627 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in W.P. Carey during the fourth quarter worth about $31,124,000. Finally, Nuveen LLC purchased a new position in W.P. Carey during the first quarter worth about $30,194,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WPC has been the subject of several research analyst reports. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. Barclays increased their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 20th. UBS Group increased their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Finally, Evercore ISI raised 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. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, W.P. Carey presently has a consensus rating of “Hold” and an average target price of $65.67.

W.P. Carey Trading Up 0.3%

NYSE WPC opened at $66.06 on Wednesday. The firm has a 50 day simple moving average of $64.03 and a 200-day simple moving average of $62.36. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 9.62 and a beta of 0.78. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.5%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey’s dividend payout ratio is 236.84%.

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.