Everence Capital Management Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Everence Capital Management Inc. acquired a new position in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,250 shares of the real estate investment trust’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Equity Investment Corp increased its stake in shares of W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares in the last quarter. SG Americas Securities LLC grew its stake in W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after buying an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after acquiring an additional 9,353 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in shares of W. P. Carey during the third quarter worth $1,692,000. Finally, abrdn plc boosted its holdings in shares of W. P. Carey by 9.9% in the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after acquiring an additional 9,229 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Up 0.1 %

Shares of NYSE:WPC opened at $55.01 on Wednesday. The firm has a fifty day moving average of $55.69 and a 200 day moving average of $57.88. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $12.04 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data 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 firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 earnings per share. As a group, research analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.40%. W. P. Carey’s dividend payout ratio is 138.58%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPC. Barclays reissued an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Monday, December 16th. Evercore ISI raised their price target 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. Finally, UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average target price of $63.25.

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.