Thrivent Financial for Lutherans Has $4.01 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Thrivent Financial for Lutherans decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 32.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,299 shares of the real estate investment trust’s stock after selling 30,539 shares during the quarter. Thrivent Financial for Lutherans’ holdings in W. P. Carey were worth $4,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its holdings in W. P. Carey by 93.1% during 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 period. Allspring Global Investments Holdings LLC increased its position in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares in the last quarter. Quarry LP lifted its holdings in W. P. Carey by 175.9% during 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 in the last quarter. Lynx Investment Advisory acquired a new position in W. P. Carey in the second quarter valued at about $34,000. Finally, Maia Wealth LLC acquired a new position in shares of W. P. Carey in the third quarter valued at approximately $40,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $57.10 on Monday. The stock’s 50 day moving average is $58.95 and its 200-day moving average is $58.23. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) 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 business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.13%. W. P. Carey’s payout ratio is 137.80%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada reduced their price target 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. Finally, Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus price target 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.