W. P. Carey Inc. (NYSE:WPC) Holdings Decreased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its position in shares of W. P. Carey Inc. (NYSE:WPC) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,137 shares of the real estate investment trust’s stock after selling 601 shares during the quarter. Gulf International Bank UK Ltd’s holdings in W. P. Carey were worth $1,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. 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 buying an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the period. Quarry LP lifted its holdings in 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 acquiring an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new position in W. P. Carey in the second quarter worth about $34,000. Finally, EdgeRock Capital LLC acquired a new position in W. P. Carey in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.8 %

Shares of NYSE:WPC opened at $56.73 on Friday. The company has a 50 day moving average of $60.04 and a 200-day moving average of $58.20. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.41 billion, a P/E ratio of 22.33, a P/E/G ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $53.01 and a twelve month high of $67.40.

W. P. Carey (NYSE:WPC) last released its 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 return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter last year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal 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 issued a dividend of $0.875 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WPC. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays upped 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 report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.25.

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.