KBC Group NV Grows Holdings in W. P. Carey Inc. (NYSE:WPC)

KBC Group NV grew its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 746.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,820 shares of the real estate investment trust's stock after purchasing an additional 132,124 shares during the quarter. KBC Group NV owned about 0.07% of W. P. Carey worth $9,334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of W. P. Carey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust's stock worth $1,748,007,000 after purchasing an additional 187,022 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust's stock valued at $178,401,000 after acquiring an additional 588,636 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust's stock valued at $173,570,000 after acquiring an additional 204,064 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust's stock worth $138,973,000 after acquiring an additional 7,549 shares during the last quarter. Finally, PGGM Investments boosted its position in shares of W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust's stock worth $137,569,000 after purchasing an additional 389,853 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company restated an "equal weight" rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. UBS Group reduced 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. Finally, Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $62.88.

W. P. Carey Stock Up 1.7 %

NYSE WPC traded up $0.92 on Friday, hitting $55.77. 1,704,410 shares of the stock were exchanged, compared to its average volume of 1,168,992. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a 50-day moving average price of $59.52 and a 200-day moving average price of $58.21. The company has a market cap of $12.21 billion, a PE ratio of 21.96, a PEG ratio of 1.04 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC - Get Free Report) last posted 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). The business had revenue of $394.78 million during the quarter, compared to analysts' expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. Sell-side 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 declared 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 positive change from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.28%. The ex-dividend date was Monday, September 30th. W. P. Carey's dividend payout ratio is currently 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.