Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,752 Shares of W. P. Carey Inc. (NYSE:WPC)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,094 shares of the real estate investment trust’s stock after buying an additional 1,752 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in W. P. Carey were worth $3,619,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in W. P. Carey in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew 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 valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Riverview Trust Co bought a new position in shares of W. P. Carey during the first quarter worth approximately $28,000. Finally, Quarry LP lifted its holdings in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WPC shares. Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Barclays raised 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. UBS Group increased their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.25.

Insider Activity at W. P. Carey

In related news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.08% of the stock is currently owned by insiders.

W. P. Carey Stock Up 1.2 %

Shares of WPC opened at $60.01 on Monday. The firm has a 50 day simple moving average of $60.52 and a two-hundred day simple moving average of $58.05. The company has a market cap of $13.13 billion, a P/E ratio of 22.82, a P/E/G ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the company earned $1.36 earnings per share. W. P. Carey’s quarterly revenue was down 13.9% compared to the same quarter last year. Research analysts forecast 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. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

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.