HGI Capital Management LLC Acquires Shares of 73,728 W. P. Carey Inc. (NYSE:WPC)

HGI Capital Management LLC bought a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,728 shares of the real estate investment trust's stock, valued at approximately $4,593,000. W. P. Carey makes up approximately 4.0% of HGI Capital Management LLC's investment portfolio, making the stock its 10th biggest position.

Several other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP increased its stake 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 worth $31,000 after acquiring an additional 357 shares during the period. Lynx Investment Advisory purchased a new position in shares of W. P. Carey during the second quarter worth $34,000. Finally, EdgeRock Capital LLC purchased a new stake in W. P. Carey in the second quarter valued at $39,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on WPC shares. Scotiabank reduced their price objective on 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. Wells Fargo & Company reiterated an "equal weight" rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays upped their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Evercore ISI boosted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, UBS Group dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $62.88.

W. P. Carey Price Performance

NYSE:WPC traded down $0.45 during trading hours on Friday, reaching $57.06. 762,731 shares of the company were exchanged, compared to its average volume of 1,207,142. The stock's 50-day moving average is $58.47 and its 200-day moving average is $58.20. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The firm has a market cap of $12.49 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the company earned $1.32 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.13%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is presently 137.80%.

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.