Janney Montgomery Scott LLC Acquires New Position in W. P. Carey Inc. (NYSE:WPC)

Janney Montgomery Scott LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 145,838 shares of the real estate investment trust’s stock, valued at approximately $9,086,000. Janney Montgomery Scott LLC owned approximately 0.07% of W. P. Carey as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WPC. Equity Investment Corp acquired a new stake in W. P. Carey during the first quarter valued at $59,802,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 22.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after buying an additional 588,636 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of W. P. Carey by 185.7% in the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after buying an additional 444,785 shares in the last quarter. International Assets Investment Management LLC increased its holdings in W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the last quarter. Finally, PGGM Investments raised its position in W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WPC shares. Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Evercore ISI upped their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company reissued 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. Finally, UBS Group upped their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Up 0.6 %

WPC opened at $55.73 on Friday. The business has a 50 day moving average of $60.11 and a 200-day moving average of $58.20. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.03 and a beta of 0.95. 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 Inc. has a 1-year low of $53.01 and a 1-year high of $67.40.

W. P. Carey (NYSE:WPC) last issued 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period last year, the company earned $1.32 earnings per share. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. 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. The ex-dividend date of this dividend was Monday, September 30th. 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.