Gateway Investment Advisers LLC Sells 48,095 Shares of W.P. Carey Inc. $WPC

Gateway Investment Advisers LLC lowered its position in W.P. Carey Inc. (NYSE:WPC) by 93.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,140 shares of the real estate investment trust’s stock after selling 48,095 shares during the period. Gateway Investment Advisers LLC’s holdings in W.P. Carey were worth $212,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Austin Private Wealth LLC raised its stake in W.P. Carey by 2.1% during the third quarter. Austin Private Wealth LLC now owns 7,654 shares of the real estate investment trust’s stock worth $517,000 after buying an additional 161 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock worth $2,011,000 after acquiring an additional 178 shares during the period. BridgePort Financial Solutions LLC raised its position in shares of W.P. Carey by 0.6% in the 2nd quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock worth $1,789,000 after acquiring an additional 180 shares in the last quarter. Cooper Financial Group lifted its stake in shares of W.P. Carey by 1.5% in the 2nd quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 181 shares during the period. Finally, Kovack Advisors Inc. lifted its stake in shares of W.P. Carey by 3.3% in the 2nd quarter. Kovack Advisors Inc. now owns 5,779 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 186 shares during the period. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WPC. JPMorgan Chase & Co. lowered their target price on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $69.00 target price on shares of W.P. Carey in a research report on Monday, December 8th. Barclays raised their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. Finally, Evercore ISI decreased their price target on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a research note on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Price Performance

Shares of WPC opened at $64.43 on Wednesday. The business’s fifty day moving average is $65.93 and its 200 day moving average is $65.85. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.79. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. The stock has a market cap of $14.12 billion, a P/E ratio of 39.05, a P/E/G ratio of 5.81 and a beta of 0.79.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $431.30 million for the quarter, compared to the consensus estimate of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.92 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, December 31st. This represents a $3.68 dividend on an annualized basis and a yield of 5.7%. W.P. Carey’s dividend payout ratio (DPR) is presently 223.03%.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.