Holocene Advisors LP grew its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 90.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,428 shares of the real estate investment trust's stock after purchasing an additional 37,623 shares during the quarter. Holocene Advisors LP's holdings in W. P. Carey were worth $4,948,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of W. P. Carey by 1,510.0% during the second 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 last quarter. Quarry LP grew its holdings in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock worth $31,000 after buying an additional 357 shares during the last quarter. Maia Wealth LLC purchased a new position in shares of W. P. Carey during the third quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock worth $42,000 after buying an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
W. P. Carey stock traded up $0.16 during mid-day trading on Thursday, hitting $55.90. 1,272,778 shares of the company were exchanged, compared to its average volume of 1,207,268. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The business's 50 day simple moving average is $57.93 and its two-hundred day simple moving average is $58.10. The company has a market capitalization of $12.23 billion, a P/E ratio of 21.94, a PEG ratio of 1.04 and a beta of 0.96.
W. P. Carey (NYSE:WPC - Get Free Report) last announced its 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 net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.26%. The ex-dividend date was Monday, September 30th. W. P. Carey's payout ratio is presently 137.80%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their price target on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Barclays raised their price target 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. Wells Fargo & Company reiterated an "equal weight" rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Evercore ISI raised their price target 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's stock. Based on data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average price target of $62.88.
Check Out Our Latest Stock Analysis on W. P. Carey
W. P. Carey Profile
(
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.
Featured Articles
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
MarketBeat's analysts have just released their top five short plays for December 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
