MKT Advisors LLC Trims Holdings in W.P. Carey Inc. $WPC

MKT Advisors LLC lessened its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 5.6% during the second quarter, Holdings Channel reports. The firm owned 6,744 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. MKT Advisors LLC’s holdings in W.P. Carey were worth $425,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WPC. Two Sigma Investments LP boosted its position in W.P. Carey by 30.5% during the 4th quarter. Two Sigma Investments LP now owns 47,797 shares of the real estate investment trust’s stock valued at $2,604,000 after acquiring an additional 11,180 shares in the last quarter. Two Sigma Advisers LP bought a new stake in W.P. Carey during the 4th quarter valued at approximately $458,000. Toronto Dominion Bank boosted its position in W.P. Carey by 6.8% during the 4th quarter. Toronto Dominion Bank now owns 29,414 shares of the real estate investment trust’s stock valued at $1,602,000 after acquiring an additional 1,863 shares in the last quarter. Mackenzie Financial Corp boosted its position in W.P. Carey by 63.0% during the 4th quarter. Mackenzie Financial Corp now owns 19,024 shares of the real estate investment trust’s stock valued at $1,036,000 after acquiring an additional 7,352 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in W.P. Carey by 5.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 315 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WPC shares. Barclays lifted their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, August 20th. Scotiabank boosted their price target on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. 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, June 9th. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, UBS Group boosted their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.22.

W.P. Carey Stock Performance

WPC stock opened at $67.45 on Friday. The stock has a market capitalization of $14.77 billion, a PE ratio of 44.37, a price-to-earnings-growth ratio of 9.80 and a beta of 0.82. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.00. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock’s 50 day simple moving average is $66.05 and its 200 day simple moving average is $63.22.

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

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey’s payout ratio is currently 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.