MAI Capital Management Sells 4,791 Shares of W.P. Carey Inc. $WPC

MAI Capital Management cut its stake in W.P. Carey Inc. (NYSE:WPC) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,209 shares of the real estate investment trust’s stock after selling 4,791 shares during the period. MAI Capital Management’s holdings in W.P. Carey were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Quarry LP raised its stake in shares of W.P. Carey by 576.1% during the first quarter. Quarry LP now owns 6,247 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 5,323 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of W.P. Carey by 5.1% during the first quarter. Evergreen Capital Management LLC now owns 7,058 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 345 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of W.P. Carey during the first quarter worth approximately $792,000. Eisler Capital Management Ltd. bought a new stake in shares of W.P. Carey during the first quarter worth approximately $9,412,000. Finally, Ieq Capital LLC raised its stake in shares of W.P. Carey by 127.8% during the first quarter. Ieq Capital LLC now owns 9,508 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 5,335 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price for the company in a research note on Monday, June 9th. UBS Group upped their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Barclays upped their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.89.

W.P. Carey Stock Up 0.3%

W.P. Carey stock opened at $66.94 on Friday. The stock has a market capitalization of $14.66 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 9.77 and a beta of 0.82. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $67.64. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $64.47 and a 200-day moving average of $62.77.

W.P. Carey (NYSE:WPC) last released its quarterly 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 company had revenue of $430.78 million during 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 business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.4%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey’s dividend payout ratio is currently 236.84%.

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.