MADDEN SECURITIES Corp Trims Holdings in W. P. Carey Inc. (NYSE:WPC)

MADDEN SECURITIES Corp decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 38.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,690 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. MADDEN SECURITIES Corp’s holdings in W. P. Carey were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of W. P. Carey during the fourth quarter valued at about $139,381,000. Demars Financial Group LLC increased its holdings in W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after acquiring an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp lifted its stake in W. P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in W. P. Carey in the 4th quarter valued at $31,442,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WPC shares. Barclays set a $61.00 price target on shares of W. P. Carey and gave the stock an “underweight” rating in a report on Wednesday, May 21st. UBS Group decreased their target price on W. P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Evercore ISI raised their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.22.

W. P. Carey Trading Up 1.1%

Shares of WPC stock opened at $63.28 on Tuesday. The business has a 50-day moving average price of $60.88 and a two-hundred day moving average price of $59.09. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.86 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.06 and a beta of 0.80.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. Equities analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.89 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.63%. W. P. Carey’s dividend payout ratio is 183.51%.

W. P. Carey Profile

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.