B. Metzler seel. Sohn & Co. Holding AG Invests $640,000 in W. P. Carey Inc. (NYSE:WPC)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in W. P. Carey Inc. (NYSE:WPC) in the 3rd quarter, Holdings Channel reports. The firm acquired 10,279 shares of the real estate investment trust’s stock, valued at approximately $640,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. Napa Wealth Management grew its holdings in shares of W. P. Carey by 19.8% during the 3rd quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 778 shares during the period. Quest Partners LLC boosted its stake in W. P. Carey by 747.6% during the third quarter. Quest Partners LLC now owns 108,748 shares of the real estate investment trust’s stock worth $6,775,000 after buying an additional 95,918 shares during the period. Equity Investment Corp increased its position in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after acquiring an additional 9,610 shares during the last quarter. Swiss National Bank raised its stake in shares of W. P. Carey by 0.4% in the 3rd quarter. Swiss National Bank now owns 649,451 shares of the real estate investment trust’s stock valued at $40,461,000 after acquiring an additional 2,300 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of W. P. Carey in the 3rd quarter worth approximately $218,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

NYSE WPC opened at $57.10 on Friday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The firm has a 50 day moving average of $58.95 and a two-hundred day moving average of $58.21. The stock has a market capitalization of $12.50 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 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). The business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. As a group, research analysts expect that W. P. Carey Inc. will post 4.52 EPS 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. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 137.80%.

Analyst Ratings Changes

WPC has been the subject of several research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their target price 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. Royal Bank of Canada dropped their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. 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 report on Thursday, October 10th. Finally, Scotiabank cut their target price 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average rating of “Hold” and a consensus target price of $62.88.

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.