Pensionfund Sabic Cuts Position in W.P. Carey Inc. $WPC

Pensionfund Sabic lessened its holdings in W.P. Carey Inc. (NYSE:WPC) by 16.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,804 shares of the real estate investment trust’s stock after selling 8,500 shares during the quarter. W.P. Carey comprises 0.8% of Pensionfund Sabic’s portfolio, making the stock its 29th largest position. Pensionfund Sabic’s holdings in W.P. Carey were worth $2,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Janus Henderson Group PLC grew its holdings in W.P. Carey by 130.2% in the fourth quarter. Janus Henderson Group PLC now owns 27,585 shares of the real estate investment trust’s stock worth $1,503,000 after purchasing an additional 15,600 shares during the period. Millennium Management LLC grew its holdings in W.P. Carey by 514.7% in the fourth quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust’s stock worth $29,361,000 after purchasing an additional 451,262 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in W.P. Carey by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,130 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 1,548 shares during the period. Nomura Holdings Inc. purchased a new stake in W.P. Carey in the fourth quarter worth about $2,877,000. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in W.P. Carey by 1.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 58,450 shares of the real estate investment trust’s stock worth $3,186,000 after purchasing an additional 1,117 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Trading Up 0.3%

NYSE:WPC opened at $68.69 on Friday. The company’s 50 day moving average price is $65.08 and its 200-day moving average price is $63.02. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $68.98. 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 stock has a market cap of $15.04 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 9.97 and a beta of 0.82.

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 (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. During the same quarter last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WPC. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $72.00 in a report on Thursday. UBS Group upped their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Evercore ISI increased their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Barclays increased their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, August 20th. Finally, Scotiabank increased their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.78.

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.