SageView Advisory Group LLC Reduces Position in W.P. Carey Inc. $WPC

SageView Advisory Group LLC decreased its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,543 shares of the real estate investment trust’s stock after selling 304 shares during the period. SageView Advisory Group LLC’s holdings in W.P. Carey were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WPC. JPMorgan Chase & Co. increased its position in W.P. Carey by 274.7% during the first 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 in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of W.P. Carey by 1,016.8% during the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock worth $110,564,000 after purchasing an additional 1,595,045 shares during the last quarter. Nuveen LLC acquired a new stake in shares of W.P. Carey during the first quarter worth $30,194,000. Private Management Group Inc. acquired a new stake in shares of W.P. Carey during the first quarter worth $29,923,000. Finally, Millennium Management LLC boosted its holdings in shares of W.P. Carey by 514.7% during the fourth quarter. Millennium Management LLC now owns 538,933 shares of the real estate investment trust’s stock worth $29,361,000 after purchasing an additional 451,262 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WPC shares. Evercore ISI raised their price objective on W.P. Carey from $65.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. Scotiabank raised their price objective on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Friday, September 5th. Barclays raised their price objective on W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, August 20th. Wells Fargo & Company upgraded 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. Finally, BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a “neutral” rating in a report on Monday, June 9th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.78.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $68.69 on Friday. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $68.98. The stock has a market capitalization of $15.04 billion, a P/E ratio of 45.19, a PEG ratio of 9.97 and a beta of 0.82. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The business’s fifty day moving average price is $65.08 and its 200 day moving average price is $63.02.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. During the same quarter last year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

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.