Fmr LLC Raises Holdings in W. P. Carey Inc. (NYSE:WPC)

FMR LLC grew its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 103.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 806,082 shares of the real estate investment trust's stock after acquiring an additional 409,593 shares during the period. FMR LLC owned about 0.37% of W. P. Carey worth $50,219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WPC. Allspring Global Investments Holdings LLC raised its position in 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 worth $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP lifted 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 valued at $31,000 after purchasing an additional 357 shares during the period. EdgeRock Capital LLC purchased a new stake in W. P. Carey during the second quarter worth about $39,000. Maia Wealth LLC purchased a new stake in W. P. Carey during the third quarter worth about $40,000. Finally, Ridgewood Investments LLC acquired a new position in W. P. Carey during the second quarter worth about $41,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Up 0.1 %

Shares of NYSE WPC traded up $0.03 during midday trading on Friday, reaching $55.90. 1,052,276 shares of the stock were exchanged, compared to its average volume of 1,024,145. The stock has a 50 day moving average price of $57.65 and a 200-day moving average price of $58.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $12.23 billion, a P/E ratio of 22.01, 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 released its earnings results 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 return on equity of 6.45% and a net margin of 35.12%. The firm 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 firm posted $1.32 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.26%. W. P. Carey's dividend payout ratio is 137.80%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WPC. Evercore ISI upped their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Wells Fargo & Company restated an "equal weight" rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays increased their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, UBS Group cut 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 report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently 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.