Royal Fund Management LLC Grows Stake in W. P. Carey Inc. (NYSE:WPC)

Royal Fund Management LLC grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 17.2% in the fourth quarter, Holdings Channel reports. The fund owned 27,180 shares of the real estate investment trust’s stock after buying an additional 3,988 shares during the quarter. Royal Fund Management LLC’s holdings in W. P. Carey were worth $1,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after buying an additional 479,973 shares during the period. FMR LLC lifted its position in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares during the period. International Assets Investment Management LLC boosted its position in W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after acquiring an additional 400,782 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of W. P. Carey by 274.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after buying an additional 297,432 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WPC shares. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company reiterated 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Finally, Barclays reissued an “underweight” rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Trading Up 0.5 %

WPC opened at $55.81 on Tuesday. The business’s 50 day moving average price is $55.51 and its 200 day moving average price is $57.85. 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 stock has a market capitalization of $12.21 billion, a PE ratio of 21.97, a P/E/G ratio of 0.97 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.42.

W. P. Carey (NYSE:WPC) last released its quarterly 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 business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is currently 138.58%.

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.