abrdn plc Buys 9,229 Shares of W. P. Carey Inc. (NYSE:WPC)

abrdn plc increased its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,657 shares of the real estate investment trust's stock after acquiring an additional 9,229 shares during the period. abrdn plc's holdings in W. P. Carey were worth $6,396,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Equity Investment Corp bought a new position in shares of W. P. Carey in the first quarter valued at $59,802,000. Massachusetts Financial Services Co. MA lifted its holdings 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 purchasing an additional 588,636 shares during the last quarter. Hsbc Holdings PLC increased its stake in W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust's stock worth $37,631,000 after purchasing an additional 444,785 shares in the last quarter. International Assets Investment Management LLC lifted its stake in W. P. Carey by 6,145.1% during the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust's stock valued at $25,375,000 after buying an additional 400,782 shares in the last quarter. Finally, PGGM Investments boosted 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 buying an additional 389,853 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Stock Down 1.1 %

NYSE WPC traded down $0.60 during trading on Friday, hitting $55.12. 1,583,849 shares of the company traded hands, compared to its average volume of 1,057,918. W. P. Carey Inc. has a 12 month low of $53.01 and a 12 month high of $67.40. The business has a fifty day simple moving average of $60.44 and a 200 day simple moving average of $58.20. The company has a market capitalization of $12.06 billion, a P/E ratio of 21.70, a PEG ratio of 1.04 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 1.93 and a debt-to-equity ratio of 0.90.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the company earned $1.32 EPS. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey's dividend payout ratio (DPR) is currently 137.80%.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the purchase, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Evercore ISI upped their price target on shares of 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. JPMorgan Chase & Co. lowered their price target on W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. UBS Group increased their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. 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 on the stock in a research note on Thursday, August 1st. Finally, Barclays lifted their target price 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. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey has an average rating of "Hold" and an average price target of $63.25.

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.