Waterfront Capital Partners LLC Has $15.33 Million Position in W. P. Carey Inc. (NYSE:WPC)

Waterfront Capital Partners LLC cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 47.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,111 shares of the real estate investment trust's stock after selling 217,868 shares during the period. W. P. Carey comprises approximately 2.1% of Waterfront Capital Partners LLC's holdings, making the stock its 18th largest holding. Waterfront Capital Partners LLC owned approximately 0.11% of W. P. Carey worth $15,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WPC. HB Wealth Management LLC grew its holdings in shares of W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock worth $684,000 after purchasing an additional 8,843 shares during the last quarter. SG Americas Securities LLC grew its holdings in W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock worth $9,742,000 after acquiring an additional 46,181 shares during the last quarter. Equity Investment Corp increased its position in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock valued at $92,305,000 after acquiring an additional 9,610 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of W. P. Carey by 69.5% in the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock worth $1,319,000 after acquiring an additional 9,353 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of W. P. Carey by 9.8% during the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust's stock worth $5,954,000 after purchasing an additional 9,619 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Trading Down 0.8 %

NYSE:WPC traded down $0.45 during trading hours on Friday, hitting $57.06. The stock had a trading volume of 762,731 shares, compared to its average volume of 1,207,142. The business's 50 day moving average is $58.47 and its 200-day moving average is $58.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $377.43 million. During the same quarter in the prior year, the company earned $1.32 EPS. W. P. Carey's quarterly revenue was down 11.9% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. W. P. Carey's payout ratio is currently 137.80%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WPC shares. Royal Bank of Canada dropped 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 research report on Thursday, August 1st. Scotiabank cut their price target on 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. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Wells Fargo & Company restated an "equal weight" rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Barclays lifted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat.com, W. P. Carey currently has a consensus rating of "Hold" and an average price target of $62.88.

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.