73,728 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by HGI Capital Management LLC

HGI Capital Management LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 73,728 shares of the real estate investment trust’s stock, valued at approximately $4,593,000. W. P. Carey accounts for about 4.0% of HGI Capital Management LLC’s holdings, making the stock its 10th largest holding.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares during the period. Dimensional Fund Advisors LP boosted its holdings in W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after buying an additional 204,064 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares during the period. Bank of New York Mellon Corp boosted its holdings in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after buying an additional 7,549 shares during the period. Finally, PGGM Investments boosted its holdings in W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after buying an additional 389,853 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WPC shares. Barclays increased 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. 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 note on Tuesday, October 1st. Evercore ISI lifted their price objective 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. UBS Group lowered their target price 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. Finally, Scotiabank reduced their price target on shares of 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 investment 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, the company has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

WPC stock opened at $57.51 on Friday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week 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 company has a fifty day simple moving average of $58.58 and a two-hundred day simple moving average of $58.21. The firm has a market capitalization of $12.59 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released 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 business 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 business earned $1.32 EPS. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

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.