QRG Capital Management Inc. Sells 95,270 Shares of W.P. Carey Inc. $WPC

QRG Capital Management Inc. cut its position in W.P. Carey Inc. (NYSE:WPC) by 69.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,120 shares of the real estate investment trust’s stock after selling 95,270 shares during the period. QRG Capital Management Inc.’s holdings in W.P. Carey were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Andra AP fonden grew its holdings in W.P. Carey by 27.9% during the 2nd quarter. Andra AP fonden now owns 160,700 shares of the real estate investment trust’s stock valued at $10,024,000 after buying an additional 35,100 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of W.P. Carey by 6.6% during the 2nd quarter. Exchange Traded Concepts LLC now owns 63,927 shares of the real estate investment trust’s stock valued at $3,988,000 after acquiring an additional 3,986 shares during the last quarter. Advisors Capital Management LLC grew its holdings in shares of W.P. Carey by 6.4% in the second quarter. Advisors Capital Management LLC now owns 875,988 shares of the real estate investment trust’s stock valued at $54,644,000 after purchasing an additional 52,660 shares in the last quarter. Carnegie Investment Counsel increased its position in W.P. Carey by 9.4% in the third quarter. Carnegie Investment Counsel now owns 208,638 shares of the real estate investment trust’s stock worth $14,098,000 after purchasing an additional 17,843 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in W.P. Carey by 89.9% during the third quarter. HB Wealth Management LLC now owns 20,946 shares of the real estate investment trust’s stock valued at $1,415,000 after purchasing an additional 9,918 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Barclays set a $65.00 price target on shares of W.P. Carey in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Citigroup upped their price objective on W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Evercore ISI dropped their target price on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.45.

W.P. Carey Stock Performance

Shares of NYSE:WPC opened at $70.18 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 12 month low of $53.93 and a 12 month high of $70.28. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 42.54, a PEG ratio of 6.00 and a beta of 0.79. The firm’s 50-day moving average is $66.16 and its 200 day moving average is $66.09.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $431.30 million during the quarter, compared to analyst estimates of $424.44 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.92 dividend. The ex-dividend date was Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 5.2%. W.P. Carey’s payout ratio is 223.03%.

About W.P. Carey

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.