QRG Capital Management Inc. Purchases 9,052 Shares of W. P. Carey Inc. (NYSE:WPC)

QRG Capital Management Inc. lifted its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,208 shares of the real estate investment trust's stock after buying an additional 9,052 shares during the quarter. QRG Capital Management Inc. owned approximately 0.05% of W. P. Carey worth $7,302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WPC. Asset Management One Co. Ltd. raised its stake in W. P. Carey by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 428,962 shares of the real estate investment trust's stock valued at $26,724,000 after purchasing an additional 1,577 shares in the last quarter. Cohen Capital Management Inc. raised its stake in W. P. Carey by 1.5% during the third quarter. Cohen Capital Management Inc. now owns 56,059 shares of the real estate investment trust's stock valued at $3,492,000 after purchasing an additional 851 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in W. P. Carey by 274.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust's stock valued at $25,282,000 after purchasing an additional 297,432 shares in the last quarter. Van ECK Associates Corp raised its stake in W. P. Carey by 11.8% during the third quarter. Van ECK Associates Corp now owns 98,733 shares of the real estate investment trust's stock valued at $5,828,000 after purchasing an additional 10,409 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in W. P. Carey during the third quarter valued at $9,086,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Insiders Place Their Bets

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the acquisition, the director now owns 38,124 shares of the company's stock, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of W. P. Carey from $70.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reduced their target price 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. Wells Fargo & Company reissued an "equal weight" rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Finally, UBS Group increased 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, W. P. Carey has an average rating of "Hold" and a consensus target price of $63.25.

W. P. Carey Trading Down 0.7 %

Shares of NYSE WPC traded down $0.37 during mid-day trading on Wednesday, reaching $55.41. The company had a trading volume of 1,537,348 shares, compared to its average volume of 1,218,371. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52 week low of $53.01 and a 52 week high of $67.40. The business's 50-day moving average is $60.27 and its 200-day moving average is $58.24. The stock has a market cap of $12.13 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

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 return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the previous year, the company earned $1.32 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.32%. This is a boost from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey's dividend payout ratio is presently 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.