PGGM Investments Sells 855 Shares of W. P. Carey Inc. (NYSE:WPC)

PGGM Investments trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,108,108 shares of the real estate investment trust’s stock after selling 855 shares during the period. W. P. Carey makes up about 2.1% of PGGM Investments’ investment portfolio, making the stock its 9th biggest position. PGGM Investments’ holdings in W. P. Carey were worth $136,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WPC. Russell Investments Group Ltd. raised its stake in shares of W. P. Carey by 99.7% during the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock worth $22,810,000 after buying an additional 175,347 shares during the last quarter. Aew Capital Management L P raised its stake in shares of W. P. Carey by 92.7% during the fourth quarter. Aew Capital Management L P now owns 296,460 shares of the real estate investment trust’s stock worth $19,214,000 after buying an additional 142,600 shares during the last quarter. Meritage Portfolio Management raised its stake in shares of W. P. Carey by 244.3% during the fourth quarter. Meritage Portfolio Management now owns 95,932 shares of the real estate investment trust’s stock worth $6,217,000 after buying an additional 68,068 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of W. P. Carey by 1.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 71,419 shares of the real estate investment trust’s stock worth $4,640,000 after buying an additional 1,215 shares during the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of W. P. Carey by 939.6% during the fourth quarter. Yousif Capital Management LLC now owns 110,691 shares of the real estate investment trust’s stock worth $7,174,000 after buying an additional 100,044 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of recent research reports. Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Scotiabank dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. StockNews.com started coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their target price on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Finally, Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Stock Down 1.7 %

Shares of WPC stock traded down $0.95 during trading hours on Friday, hitting $55.03. 1,167,421 shares of the company were exchanged, compared to its average volume of 981,356. The business has a 50 day moving average of $55.99 and a two-hundred day moving average of $58.80. 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 52 week low of $51.36 and a 52 week high of $74.66. The company has a market capitalization of $12.04 billion, a PE ratio of 16.68, a PEG ratio of 0.44 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same quarter in the prior year, the firm earned $1.29 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

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

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.