W. P. Carey Inc. (NYSE:WPC) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC reduced its holdings in W. P. Carey Inc. (NYSE:WPC) by 13.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,200 shares of the real estate investment trust’s stock after selling 665 shares during the quarter. Sound Income Strategies LLC’s holdings in W. P. Carey were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WPC. American Century Companies Inc. lifted its holdings in shares of W. P. Carey by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 63,802 shares of the real estate investment trust’s stock valued at $3,512,000 after buying an additional 4,766 shares during the period. AE Wealth Management LLC lifted its holdings in shares of W. P. Carey by 20.0% in the 2nd quarter. AE Wealth Management LLC now owns 9,778 shares of the real estate investment trust’s stock valued at $538,000 after buying an additional 1,631 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of W. P. Carey by 33.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 94,838 shares of the real estate investment trust’s stock valued at $5,221,000 after buying an additional 23,568 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of W. P. Carey by 4.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,960 shares of the real estate investment trust’s stock valued at $1,209,000 after buying an additional 924 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of W. P. Carey by 8.5% in the 2nd quarter. Bank of Montreal Can now owns 33,811 shares of the real estate investment trust’s stock valued at $1,871,000 after buying an additional 2,659 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on WPC. Barclays reissued an “underweight” rating and issued a $59.00 price target (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Stock Performance

NYSE WPC opened at $55.24 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.81. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The business has a fifty day moving average of $55.53 and a 200-day moving average of $57.82. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the firm earned $1.32 earnings per share. The business’s revenue was down 11.9% compared to the same quarter last year. As a group, analysts predict that W. P. Carey Inc. will post 4.49 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

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.