Edgestream Partners L.P. Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

Edgestream Partners L.P. acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,269 shares of the real estate investment trust's stock, valued at approximately $951,000.

Several other large investors have also recently made changes to their positions in WPC. Massmutual Trust Co. FSB ADV raised its position in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 231 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock worth $27,000 after buying an additional 453 shares during the period. Quarry LP lifted its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 357 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in W. P. Carey in the 2nd quarter worth $39,000. Finally, Maia Wealth LLC acquired a new position in W. P. Carey during the third quarter worth $40,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.2 %

Shares of WPC traded up $0.13 during midday trading on Thursday, hitting $55.87. 1,272,760 shares of the stock were exchanged, compared to its average volume of 1,207,268. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $12.23 billion, a P/E 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. The stock has a fifty day simple moving average of $57.93 and a 200 day simple moving average of $58.10.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $377.43 million. During the same period in the previous year, the business posted $1.32 EPS. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS 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 paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.26%. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey's payout ratio is presently 137.80%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WPC shares. Barclays boosted 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. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Scotiabank reduced their price objective on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI upped their target price on W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.