Commonwealth Equity Services LLC Has $58.95 Million Position in W.P. Carey Inc. $WPC

Commonwealth Equity Services LLC lessened its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 872,381 shares of the real estate investment trust’s stock after selling 112,103 shares during the quarter. Commonwealth Equity Services LLC owned 0.40% of W.P. Carey worth $58,947,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Andra AP fonden increased its stake in shares of W.P. Carey by 27.9% during the 2nd quarter. Andra AP fonden now owns 160,700 shares of the real estate investment trust’s stock worth $10,024,000 after purchasing an additional 35,100 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in W.P. Carey by 6.6% during the second quarter. Exchange Traded Concepts LLC now owns 63,927 shares of the real estate investment trust’s stock valued at $3,988,000 after purchasing an additional 3,986 shares during the period. Advisors Capital Management LLC increased its position in W.P. Carey by 6.4% in the second quarter. Advisors Capital Management LLC now owns 875,988 shares of the real estate investment trust’s stock worth $54,644,000 after buying an additional 52,660 shares during the last quarter. Carnegie Investment Counsel increased its position in W.P. Carey by 9.4% in the third quarter. Carnegie Investment Counsel now owns 208,638 shares of the real estate investment trust’s stock worth $14,098,000 after buying an additional 17,843 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of W.P. Carey by 1.7% in the first quarter. Royal Bank of Canada now owns 252,264 shares of the real estate investment trust’s stock valued at $15,921,000 after buying an additional 4,125 shares during the period. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

WPC has been the subject of several research reports. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Barclays increased their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price target on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Evercore ISI dropped their price target on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.50.

W.P. Carey Stock Up 0.5%

WPC opened at $64.43 on Wednesday. The company has a fifty day moving average price of $65.93 and a 200-day moving average price of $65.85. The firm has a market capitalization of $14.12 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 5.81 and a beta of 0.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The company had revenue of $431.30 million for the quarter, compared to the consensus estimate of $424.44 million. During the same quarter last year, the business posted $1.18 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.92 dividend. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, December 31st. W.P. Carey’s payout ratio is 223.03%.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.