Curi RMB Capital LLC Lowers Stock Position in W. P. Carey Inc. (NYSE:WPC)

Curi RMB Capital LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,089 shares of the real estate investment trust’s stock after selling 578 shares during the period. Curi RMB Capital LLC’s holdings in W. P. Carey were worth $815,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of W. P. Carey by 1,510.0% in 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 lifted its position in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the period. Lynx Investment Advisory purchased a new stake in W. P. Carey during the second quarter valued at approximately $34,000. Finally, Maia Wealth LLC purchased a new stake in W. P. Carey during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WPC shares. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Royal Bank of Canada decreased their target price 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 decreased their target price on shares of 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. UBS Group decreased their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Barclays upped their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Up 1.7 %

NYSE:WPC opened at $55.77 on Friday. The firm has a market capitalization of $12.21 billion, a P/E ratio of 21.96, a PEG ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The company’s fifty day moving average price is $59.52 and its 200-day moving average price is $58.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data 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 business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 137.80%.

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.