Mesirow Financial Investment Management Inc. Decreases Position in W. P. Carey Inc. (NYSE:WPC)

Mesirow Financial Investment Management Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 47.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,970 shares of the real estate investment trust’s stock after selling 4,500 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in W. P. Carey were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. HB Wealth Management LLC raised its position in shares of 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 valued at $684,000 after purchasing an additional 8,843 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of W. P. Carey by 41.9% during the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after buying an additional 46,181 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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. CANADA LIFE ASSURANCE Co increased its position in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after acquiring an additional 9,324 shares during the period. Finally, QRG Capital Management Inc. lifted its position in W. P. Carey by 9.8% during the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.24 on Wednesday. The company has a market capitalization of $12.09 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $53.01 and a 12-month high of $67.40. The business’s 50 day moving average is $59.86 and its two-hundred day moving average is $58.23. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the firm posted $1.32 EPS. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. Analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.34%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPC. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank decreased their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. UBS Group increased their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Barclays boosted their target price on shares of 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. Finally, Royal Bank of Canada reduced their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $63.25.

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.