W.P. Carey Inc. $WPC Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,256 shares of the real estate investment trust’s stock after selling 49,272 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in W.P. Carey were worth $5,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Wealth Management LLC increased its holdings in shares of W.P. Carey by 1.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 21,560 shares of the real estate investment trust’s stock valued at $1,393,000 after acquiring an additional 320 shares during the last quarter. Equity Investment Corp lifted its stake in W.P. Carey by 8.1% during the third quarter. Equity Investment Corp now owns 1,635,484 shares of the real estate investment trust’s stock worth $105,701,000 after purchasing an additional 122,919 shares during the last quarter. New York Life Investment Management LLC lifted its stake in W.P. Carey by 15.9% during the third quarter. New York Life Investment Management LLC now owns 33,387 shares of the real estate investment trust’s stock worth $2,158,000 after purchasing an additional 4,576 shares during the last quarter. M&G PLC bought a new position in W.P. Carey during the third quarter worth $257,000. Finally, AlphaCore Capital LLC boosted its holdings in W.P. Carey by 31.2% in the third quarter. AlphaCore Capital LLC now owns 5,150 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 1,226 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of W.P. Carey from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Barclays reduced their price target on shares of W.P. Carey from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Citigroup decreased their price target on shares of W.P. Carey from $75.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $73.00 to $88.00 in a research report on Wednesday, July 29th. Finally, Evercore set a $75.00 price objective on shares of W.P. Carey in a research note on Monday, September 21st. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.79.

W.P. Carey Trading Down 0.7%

Shares of WPC stock opened at $65.42 on Wednesday. W.P. Carey Inc. has a 1 year low of $62.19 and a 1 year high of $77.22. The firm has a market capitalization of $15.05 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75. The stock has a fifty day moving average of $65.75 and a two-hundred day moving average of $70.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.21 and a current ratio of 0.21.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.09). W.P. Carey had a net margin of 35.60% and a return on equity of 7.67%. The firm had revenue of $468.30 million for the quarter, compared to analyst estimates of $457.57 million. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts expect that W.P. Carey Inc. will post 5.07 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.95 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $3.80 annualized dividend and a dividend yield of 5.8%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.94. W.P. Carey’s dividend payout ratio is presently 131.03%.

W.P. Carey Company Profile

W.P. Carey Inc. is a real estate investment trust that owns and manages commercial properties leased to businesses under long-term net leases. Under these arrangements, tenants typically pay property expenses such as taxes, insurance and maintenance in addition to rent. The company’s portfolio focuses primarily on industrial and warehouse properties, along with retail and self-storage facilities. Its properties serve tenants in the United States and Europe. In 2023, W.P. Carey separated its office properties into a new, publicly traded company as part of a shift toward its other property types.