Stoneridge Investment Partners LLC Makes New $1.69 Million Investment in W. P. Carey Inc. (NYSE:WPC)

Stoneridge Investment Partners LLC bought a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,163 shares of the real estate investment trust's stock, valued at approximately $1,692,000.

Other hedge funds have also recently bought and sold shares of the company. Equity Investment Corp acquired a new stake in shares of W. P. Carey in the 1st quarter valued at about $59,802,000. Massachusetts Financial Services Co. MA boosted 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 acquiring an additional 588,636 shares during the period. Hsbc Holdings PLC boosted its position in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust's stock worth $37,631,000 after buying an additional 444,785 shares during the period. International Assets Investment Management LLC raised its stake in W. P. Carey by 6,145.1% during the 3rd 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 acquiring an additional 400,782 shares in the last quarter. Finally, PGGM Investments increased its stake in 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 valued at $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 Trading Up 0.8 %

Shares of WPC traded up $0.44 during trading hours on Tuesday, hitting $55.78. 1,418,315 shares of the stock traded hands, compared to its average volume of 1,216,880. The business has a fifty day moving average of $60.35 and a 200-day moving average of $58.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $12.21 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $53.01 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the business posted $1.32 EPS. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.27%. W. P. Carey's payout ratio is 137.80%.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares of the company's stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WPC. Scotiabank lowered their price objective on shares of 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. JPMorgan Chase & Co. reduced 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. UBS Group boosted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, July 18th. Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Finally, Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, W. P. Carey currently has a consensus rating of "Hold" and an average target price of $63.25.

W. P. Carey Company 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.