W. P. Carey Inc. (NYSE:WPC) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,715 shares of the real estate investment trust’s stock after selling 2,157 shares during the quarter. MetLife Investment Management LLC owned approximately 0.05% of W. P. Carey worth $7,458,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WPC. Massachusetts Financial Services Co. MA grew its holdings in W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after acquiring an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares during the last quarter. Bank of New York Mellon Corp raised its stake in W. P. Carey by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after buying an additional 7,549 shares in the last quarter. Finally, PGGM Investments raised its stake in W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on WPC shares. Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Down 0.8 %

Shares of NYSE:WPC opened at $57.06 on Friday. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $12.49 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.07 and a beta of 0.95. The firm has a fifty day moving average price of $58.47 and a 200 day moving average price of $58.20.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

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.