Barclays PLC Reduces Position in W. P. Carey Inc. (NYSE:WPC)

Barclays PLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 48.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 353,908 shares of the real estate investment trust’s stock after selling 332,352 shares during the quarter. Barclays PLC owned 0.16% of W. P. Carey worth $22,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP raised its holdings in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the 2nd quarter worth about $39,000. Maia Wealth LLC purchased a new stake in W. P. Carey in the third quarter worth about $40,000. Finally, Ridgewood Investments LLC bought a new stake in shares of W. P. Carey during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

NYSE WPC opened at $57.02 on Friday. The company has a 50-day moving average price of $57.15 and a 200-day moving average price of $58.01. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $12.48 billion, a P/E ratio of 22.45, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Equities research analysts anticipate that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.17%. The ex-dividend date is Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $62.88.

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.