Van ECK Associates Corp Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Van ECK Associates Corp lifted its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,733 shares of the real estate investment trust's stock after buying an additional 10,409 shares during the quarter. Van ECK Associates Corp's holdings in W. P. Carey were worth $5,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 453 shares during the period. Quarry LP raised its position in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Lynx Investment Advisory acquired a new stake in W. P. Carey in the 2nd quarter valued at about $34,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock worth $42,000 after buying an additional 641 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $1.15 during trading on Friday, reaching $56.85. The company's stock had a trading volume of 516,136 shares, compared to its average volume of 1,214,848. The business has a 50 day moving average price of $60.11 and a 200-day moving average price of $58.20. The company has a market capitalization of $12.44 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. 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 12-month low of $53.01 and a 12-month high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 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 company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the business earned $1.32 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid 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 yield of 6.16%. The ex-dividend date was Monday, September 30th. W. P. Carey's dividend payout ratio (DPR) is presently 137.80%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WPC. Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Wells Fargo & Company reiterated an "equal weight" rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective 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. Barclays increased their target price on shares of 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. Finally, UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus 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.