Victory Capital Management Inc. boosted its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 649.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 553,879 shares of the real estate investment trust's stock after purchasing an additional 479,973 shares during the period. Victory Capital Management Inc. owned 0.25% of W. P. Carey worth $34,507,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP lifted its stake in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new stake in W. P. Carey in the second quarter worth approximately $34,000. Finally, Maia Wealth LLC acquired a new position in shares of W. P. Carey during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 73.73% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Evercore ISI lifted their price objective 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. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on shares of 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, Barclays raised their price target on W. P. Carey from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $62.88.
Check Out Our Latest Analysis on W. P. Carey
W. P. Carey Stock Performance
W. P. Carey stock traded up $0.92 during trading hours on Friday, hitting $55.77. The stock had a trading volume of 1,704,410 shares, compared to its average volume of 1,168,992. The company has a 50-day moving average of $59.52 and a two-hundred day moving average of $58.21. 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 fifty-two week low of $53.09 and a fifty-two week high of $67.40. The company has a market cap of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.04 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 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio is 137.80%.
W. P. Carey Company Profile
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Free Report)
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.
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