Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Holdings in W.P. Carey Inc. (NYSE:WPC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,756 shares of the real estate investment trust’s stock after selling 244 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in W.P. Carey were worth $596,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in W.P. Carey by 17.1% in the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock valued at $3,056,000 after purchasing an additional 8,197 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in W.P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust’s stock valued at $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Geode Capital Management LLC boosted its holdings in W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in W.P. Carey in the 1st quarter valued at approximately $889,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in W.P. Carey by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 355,333 shares of the real estate investment trust’s stock valued at $19,359,000 after purchasing an additional 12,560 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an “underweight” rating in a research report on Wednesday, May 21st. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on shares of W.P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a “neutral” rating in a research report on Monday, June 9th. Finally, Scotiabank lifted their price target on shares of W.P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.40.

W.P. Carey Trading Down 0.3%

Shares of W.P. Carey stock opened at $62.82 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a market capitalization of $13.76 billion, a P/E ratio of 32.38, a P/E/G ratio of 7.01 and a beta of 0.80. The business has a 50 day moving average price of $62.09 and a 200 day moving average price of $59.72.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The company had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.90 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Monday, June 30th. W.P. Carey’s payout ratio is currently 183.51%.

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.