&Partners Acquires New Holdings in W. P. Carey Inc. (NYSE:WPC)

&PARTNERS acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,492 shares of the real estate investment trust's stock, valued at approximately $412,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust's stock worth $1,748,007,000 after acquiring an additional 187,022 shares during the last quarter. Cohen & Steers Inc. raised its holdings in shares of W. P. Carey by 91.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust's stock worth $731,800,000 after acquiring an additional 5,407,289 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of W. P. Carey by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust's stock worth $196,902,000 after acquiring an additional 43,959 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of W. P. Carey by 14.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust's stock worth $170,032,000 after acquiring an additional 338,194 shares during the last quarter. Finally, PGGM Investments raised its holdings in shares of W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust's stock worth $137,569,000 after acquiring an additional 389,853 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 2.2 %

Shares of NYSE WPC traded up $1.32 on Friday, hitting $60.05. The company had a trading volume of 895,525 shares, compared to its average volume of 1,277,154. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The business has a 50 day moving average of $57.11 and a two-hundred day moving average of $56.75. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $13.14 billion, a P/E ratio of 22.83, a PEG ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to analysts' expectations of $381.39 million. During the same period in the previous year, the company earned $1.36 EPS. W. P. Carey's quarterly revenue was down 13.9% on a year-over-year basis. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.87 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Friday, June 28th. This represents a $3.48 annualized dividend and a dividend yield of 5.80%. W. P. Carey's payout ratio is 132.32%.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.08% of the company's stock.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Scotiabank lowered 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 report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating for the company in a research report on Friday, July 12th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Friday, June 21st. Finally, UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $60.91.

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.