W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in W. P. Carey Inc. (NYSE:WPC) by 70.6% during the third quarter, HoldingsChannel.com reports. The fund owned 824 shares of the real estate investment trust’s stock after buying an additional 341 shares during the period. Allspring Global Investments Holdings LLC’s holdings in W. P. Carey were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WPC. Richardson Financial Services Inc. acquired a new stake in shares of W. P. Carey in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its position in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 231 shares during the period. Quarry LP boosted its position in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares during the period. Lynx Investment Advisory acquired a new stake in shares of W. P. Carey in the second quarter worth $34,000. Finally, EdgeRock Capital LLC acquired a new stake in W. P. Carey during the second quarter valued at $39,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

W. P. Carey stock opened at $55.34 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.93 and a current ratio of 1.00. The business’s 50-day simple moving average is $60.44 and its 200-day simple moving average is $58.23. The firm has a market capitalization of $12.11 billion, a PE ratio of 21.79, a PEG ratio of 1.04 and a beta of 0.95. W. P. Carey Inc. has a 52 week low of $53.01 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last posted 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). The business had revenue of $394.78 million during 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%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.32%. 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 payout ratio is currently 137.80%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WPC shares. JPMorgan Chase & Co. reduced their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays lifted their price objective on 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. UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Scotiabank cut their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.25.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.

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.