Wellington Management Group LLP Increases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Wellington Management Group LLP lifted its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 121.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,419 shares of the real estate investment trust's stock after acquiring an additional 139,212 shares during the quarter. Wellington Management Group LLP owned 0.12% of W. P. Carey worth $15,788,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its position in W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust's stock worth $684,000 after buying an additional 8,843 shares in the last quarter. Equity Investment Corp grew its position 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 valued at $92,305,000 after purchasing an additional 9,610 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust's stock valued at $9,742,000 after acquiring an additional 46,181 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust's stock valued at $1,319,000 after buying an additional 9,353 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter worth about $1,692,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Up 2.1 %

Shares of W. P. Carey stock traded up $1.17 on Friday, hitting $57.02. The stock had a trading volume of 1,204,345 shares, compared to its average volume of 1,206,672. The firm has a market capitalization of $12.48 billion, a P/E ratio of 22.45, a PEG ratio of 1.04 and a beta of 0.96. The stock has a 50 day moving average of $57.15 and a 200 day moving average of $58.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million for 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 quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date is Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is currently 138.58%.

Analyst Upgrades and Downgrades

WPC has been the topic of several research reports. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Evercore ISI upped 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 report on Monday, September 16th. Finally, 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 report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.88.

About W. P. Carey

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.