Parsons Capital Management Inc. RI Trims Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Parsons Capital Management Inc. RI cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 12.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,450 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in W. P. Carey were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WPC. DF Dent & Co. Inc. increased its stake 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 worth $298,000 after buying an additional 183 shares during the last quarter. HighTower Advisors LLC boosted its stake in 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 valued at $2,418,000 after acquiring an additional 193 shares during the last quarter. Empowered Funds LLC grew its holdings in W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in shares of W. P. Carey by 2.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 11,531 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 293 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of W. P. Carey by 5.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 315 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. BNP Paribas set a $66.00 target price on W. P. Carey and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. BNP Paribas Exane raised W. P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price target on the stock in a research report on Monday. Finally, Evercore ISI lifted 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 report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $100.40.

W. P. Carey Trading Down 0.2%

Shares of NYSE WPC opened at $63.31 on Thursday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a market cap of $13.86 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock’s 50 day simple moving average is $61.01 and its 200 day simple moving average is $59.15.

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

W. P. Carey 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.