Fmr LLC Boosts Stake in W. P. Carey Inc. (NYSE:WPC)

Fmr LLC boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 103.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,082 shares of the real estate investment trust’s stock after acquiring an additional 409,593 shares during the period. Fmr LLC owned 0.37% of W. P. Carey worth $50,219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WPC. Tidal Investments LLC purchased a new position in shares of W. P. Carey during the 1st quarter worth $342,000. Dynamic Advisor Solutions LLC grew its stake in shares of W. P. Carey by 9.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 13,550 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 1,114 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of W. P. Carey by 1.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 80,323 shares of the real estate investment trust’s stock worth $4,422,000 after buying an additional 1,499 shares during the last quarter. Cooper Financial Group raised its position in shares of W. P. Carey by 2.1% during the 2nd quarter. Cooper Financial Group now owns 10,881 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 224 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in W. P. Carey by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 143,405 shares of the real estate investment trust’s stock valued at $7,894,000 after acquiring an additional 5,244 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $55.90 on Friday. The business has a 50-day simple moving average of $57.65 and a 200-day simple moving average of $58.04. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The company has a market cap of $12.23 billion, a PE ratio of 22.01, a P/E/G ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.26%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company restated 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. Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group lowered their price objective on shares of 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. Finally, Evercore ISI lifted their price objective 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Company 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.