Integrated Wealth Concepts LLC Reduces Holdings in W.P. Carey Inc. $WPC

Integrated Wealth Concepts LLC decreased its position in shares of W.P. Carey Inc. (NYSE:WPC) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,620 shares of the real estate investment trust’s stock after selling 1,061 shares during the period. Integrated Wealth Concepts LLC’s holdings in W.P. Carey were worth $1,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. increased its stake in W.P. Carey by 274.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after buying an additional 3,747,898 shares during the period. Pacer Advisors Inc. increased its stake in W.P. Carey by 1,016.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock worth $110,564,000 after buying an additional 1,595,045 shares during the period. Nuveen LLC purchased a new stake in W.P. Carey during the 1st quarter worth $30,194,000. Private Management Group Inc. purchased a new stake in W.P. Carey during the 1st quarter worth $29,923,000. Finally, Millennium Management LLC increased its stake in W.P. Carey by 514.7% during the 4th quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust’s stock worth $29,361,000 after buying an additional 451,262 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Trading Up 1.5%

NYSE WPC opened at $68.47 on Friday. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $68.63. The company has a 50-day simple moving average of $64.96 and a 200-day simple moving average of $62.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $14.99 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 9.82 and a beta of 0.82.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same period in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WPC. Scotiabank lifted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Friday, September 5th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price target on the stock in a research note on Monday, June 9th. UBS Group raised their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Finally, Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $72.00 in a report on Thursday. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, W.P. Carey presently has a consensus rating of “Hold” and a consensus price target of $66.78.

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.