W. P. Carey Inc. (NYSE:WPC) Shares Sold by Lincoln National Corp

Lincoln National Corp reduced its position in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 14.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,907 shares of the real estate investment trust’s stock after selling 1,465 shares during the quarter. Lincoln National Corp’s holdings in W. P. Carey were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WPC. Central Bank & Trust Co. acquired a new stake in W. P. Carey during the fourth quarter worth $28,000. FNY Investment Advisers LLC acquired a new stake in shares of W. P. Carey during the 4th quarter worth about $32,000. Covestor Ltd raised its holdings in W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 595 shares during the period. First Horizon Advisors Inc. acquired a new position in W. P. Carey in the third quarter valued at about $45,000. Finally, Provence Wealth Management Group acquired a new position in W. P. Carey in the third quarter valued at about $46,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

WPC stock opened at $58.39 on Friday. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. The firm has a market capitalization of $12.78 billion, a P/E ratio of 22.20, a P/E/G ratio of 0.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day moving average is $56.08 and its two-hundred day moving average is $59.02.

W. P. Carey (NYSE:WPCGet Free Report) last issued its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The firm had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter last year, the company 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 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 5.93%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada cut their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Wells Fargo & Company decreased their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Two investment 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, the stock currently has a consensus rating of “Hold” and an average price target of $63.18.

View Our Latest Stock Analysis on W. P. Carey

W. P. Carey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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