Deutsche Bank AG Sells 8,503 Shares of W. P. Carey Inc. (NYSE:WPC)

Deutsche Bank AG decreased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,607 shares of the real estate investment trust’s stock after selling 8,503 shares during the quarter. Deutsche Bank AG owned about 0.13% of W. P. Carey worth $15,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. EP Wealth Advisors LLC boosted its holdings in W. P. Carey by 47.8% during the fourth quarter. EP Wealth Advisors LLC now owns 12,637 shares of the real estate investment trust’s stock worth $688,000 after buying an additional 4,088 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth about $194,000. Baird Financial Group Inc. lifted its stake in shares of W. P. Carey by 234.6% in the fourth quarter. Baird Financial Group Inc. now owns 51,003 shares of the real estate investment trust’s stock worth $2,779,000 after buying an additional 35,761 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of W. P. Carey by 7.0% in the fourth quarter. Ameriprise Financial Inc. now owns 730,278 shares of the real estate investment trust’s stock worth $39,667,000 after buying an additional 47,484 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of W. P. Carey in the fourth quarter worth about $12,665,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WPC. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. UBS Group decreased 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 note on Tuesday. Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.88.

W. P. Carey Stock Performance

Shares of WPC opened at $61.24 on Friday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company’s fifty day moving average is $60.97 and its two-hundred day moving average is $58.34. The stock has a market capitalization of $13.41 billion, a P/E ratio of 29.30, a P/E/G ratio of 1.06 and a beta of 0.78.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.81%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey’s dividend payout ratio is 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.