Massachusetts Financial Services Co. MA Sells 124,374 Shares of W. P. Carey Inc. (NYSE:WPC)

Massachusetts Financial Services Co. MA lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,116,331 shares of the real estate investment trust’s stock after selling 124,374 shares during the period. Massachusetts Financial Services Co. MA owned about 1.42% of W. P. Carey worth $194,147,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WPC. O Shaughnessy Asset Management LLC boosted its holdings in shares of W. P. Carey by 9.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,183 shares of the real estate investment trust’s stock valued at $1,139,000 after buying an additional 1,753 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in W. P. Carey by 8.4% in the first quarter. EP Wealth Advisors LLC now owns 5,474 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 426 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of W. P. Carey by 12.9% in the 1st quarter. 1832 Asset Management L.P. now owns 30,434 shares of the real estate investment trust’s stock valued at $1,718,000 after purchasing an additional 3,485 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in W. P. Carey by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 157,771 shares of the real estate investment trust’s stock worth $8,906,000 after purchasing an additional 5,975 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in W. P. Carey by 0.4% during the first quarter. Public Employees Retirement System of Ohio now owns 404,249 shares of the real estate investment trust’s stock worth $22,816,000 after buying an additional 1,424 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of WPC opened at $57.10 on Friday. The business has a 50-day simple moving average of $59.08 and a two-hundred day simple moving average of $58.22. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The stock has a market cap of $12.50 billion, a PE ratio of 22.48, a PEG ratio of 1.05 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter last year, the business earned $1.32 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of recent analyst reports. Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Royal Bank of Canada reduced their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.88.

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.