Versor Investments LP Trims Position in W. P. Carey Inc. (NYSE:WPC)

Versor Investments LP decreased its holdings in W. P. Carey Inc. (NYSE:WPC) by 30.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,177 shares of the real estate investment trust’s stock after selling 1,815 shares during the quarter. Versor Investments LP’s holdings in W. P. Carey were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the period. Catalytic Wealth RIA LLC lifted its holdings in W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after buying an additional 198 shares during the period. Kowal Investment Group LLC boosted its position in W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 199 shares in the last quarter. Creative Planning grew its holdings in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of W. P. Carey by 9.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the topic of several research reports. 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 report on Thursday. Evercore ISI boosted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada decreased their price target on shares of 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. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays raised 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 note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

Shares of WPC opened at $55.77 on Friday. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a market capitalization of $12.21 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The firm has a 50 day moving average of $59.52 and a 200 day moving average of $58.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

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.