Quest Partners LLC Has $6.78 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Quest Partners LLC boosted its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 747.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,748 shares of the real estate investment trust's stock after purchasing an additional 95,918 shares during the quarter. W. P. Carey makes up 0.6% of Quest Partners LLC's investment portfolio, making the stock its 2nd largest position. Quest Partners LLC's holdings in W. P. Carey were worth $6,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Equity Investment Corp increased its holdings in shares of W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock worth $92,305,000 after purchasing an additional 9,610 shares during the period. Swiss National Bank grew its position in W. P. Carey by 0.4% during the third quarter. Swiss National Bank now owns 649,451 shares of the real estate investment trust's stock worth $40,461,000 after buying an additional 2,300 shares in the last quarter. Empowered Funds LLC bought a new position in W. P. Carey in the 3rd quarter worth about $218,000. King Wealth Management Group purchased a new stake in shares of W. P. Carey in the 3rd quarter valued at about $218,000. Finally, CIBC Asset Management Inc boosted its position in shares of W. P. Carey by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 7,748 shares of the real estate investment trust's stock valued at $483,000 after acquiring an additional 395 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Up 0.8 %

Shares of W. P. Carey stock traded up $0.46 on Monday, hitting $56.23. The stock had a trading volume of 1,023,788 shares, compared to its average volume of 1,214,853. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The stock's 50-day simple moving average is $59.41 and its two-hundred day simple moving average is $58.24. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.04 and a beta of 0.95.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly 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). The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey's revenue was down 11.9% on a year-over-year basis. During the same period last year, the business earned $1.32 EPS. 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. Shareholders of record on Monday, September 30th were given a dividend of $0.875 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.22%. W. P. Carey's dividend payout ratio is presently 137.80%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their target price on 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 set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Scotiabank decreased their price target 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. Finally, UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, W. P. Carey presently has a consensus rating of "Hold" and a consensus target price of $62.88.

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.