Foundry Partners LLC Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Foundry Partners LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 52.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 243,375 shares of the real estate investment trust's stock after acquiring an additional 83,977 shares during the period. Foundry Partners LLC owned 0.11% of W. P. Carey worth $13,398,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Gilbert & Cook Inc. boosted its holdings in W. P. Carey by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 6,058 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 314 shares during the period. New York Life Investment Management LLC acquired a new position in W. P. Carey during the 4th quarter worth about $234,000. Fisher Asset Management LLC raised its stake in shares of W. P. Carey by 9.1% in the fourth quarter. Fisher Asset Management LLC now owns 7,204 shares of the real estate investment trust's stock worth $467,000 after acquiring an additional 602 shares during the last quarter. Natixis Advisors L.P. acquired a new position in W. P. Carey during the 4th quarter worth $921,000. Finally, M&T Bank Corp boosted its position in W. P. Carey by 2.7% in the 4th quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust's stock valued at $2,024,000 after buying an additional 825 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Up 1.3 %

Shares of NYSE:WPC traded up $0.77 during mid-day trading on Friday, hitting $61.50. 1,469,600 shares of the company traded hands, compared to its average volume of 1,253,829. The stock has a 50-day moving average price of $58.08 and a two-hundred day moving average price of $56.95. The stock has a market cap of $13.46 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.12 and a beta of 0.92. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS 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 the consensus estimate of $381.39 million. During the same period in the prior year, the firm posted $1.36 EPS. The business's revenue was down 13.9% on a year-over-year basis. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, June 28th. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio (DPR) is 132.32%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WPC shares. Royal Bank of Canada cut their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, July 18th. Scotiabank reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their target price on W. P. Carey from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Monday, August 26th. Finally, Evercore ISI increased their target price on shares of W. P. Carey from $61.00 to $63.00 and gave the stock an "in-line" rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $60.00.

Insiders Place Their Bets

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company's stock, valued at approximately $2,129,987.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.08% of the company's stock.

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.