Erste Asset Management GmbH purchased a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,200 shares of the real estate investment trust's stock, valued at approximately $1,267,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV increased its position in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after buying an additional 231 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 453 shares in the last quarter. Quarry LP raised its holdings in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the second quarter valued at about $39,000. Finally, Maia Wealth LLC purchased a new stake in W. P. Carey during the third quarter worth about $40,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
W. P. Carey Stock Performance
Shares of NYSE WPC traded down $0.07 during trading on Wednesday, reaching $55.74. 1,332,819 shares of the company traded hands, compared to its average volume of 1,206,988. The firm has a 50 day simple moving average of $58.06 and a 200-day simple moving average of $58.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $12.20 billion, a PE ratio of 21.94, a P/E/G ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40.
W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. 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 company earned $1.32 EPS. W. P. Carey's revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.
W. P. Carey Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.28%. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is presently 137.80%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Evercore ISI lifted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Scotiabank reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.88.
Read Our Latest Stock Report on WPC
About W. P. Carey
(
Free Report)
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.
Read More
Before you consider W. P. Carey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W. P. Carey wasn't on the list.
While W. P. Carey currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
