W. P. Carey Inc. (NYSE:WPC) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC decreased its position in W. P. Carey Inc. (NYSE:WPC) by 92.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,039 shares of the real estate investment trust’s stock after selling 51,317 shares during the quarter. Wolverine Asset Management LLC’s holdings in W. P. Carey were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at $63,000. Larson Financial Group LLC raised its position in shares of W. P. Carey by 6.5% during the fourth quarter. Larson Financial Group LLC now owns 4,213 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 257 shares during the period. California Public Employees Retirement System lifted its holdings in shares of W. P. Carey by 4.6% during the fourth quarter. California Public Employees Retirement System now owns 1,164,290 shares of the real estate investment trust’s stock valued at $75,458,000 after purchasing an additional 51,682 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of W. P. Carey by 5.2% during the fourth quarter. Handelsbanken Fonder AB now owns 139,094 shares of the real estate investment trust’s stock valued at $9,015,000 after purchasing an additional 6,921 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of W. P. Carey by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,903 shares of the real estate investment trust’s stock valued at $3,623,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Down 1.7 %

Shares of W. P. Carey stock opened at $55.03 on Friday. The stock has a 50-day moving average price of $55.99 and a 200 day moving average price of $58.80. The company has a market cap of $12.04 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.44 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $74.66.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same period last year, the business earned $1.29 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts expect that W. P. Carey Inc. will post 4.56 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.29%. W. P. Carey’s dividend payout ratio (DPR) is 104.85%.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. Royal Bank of Canada reduced their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Scotiabank reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. StockNews.com initiated coverage on W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating for the company. Finally, Wells Fargo & Company reduced their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.36.

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.