Wellington Management Group LLP Acquires 15,763 Shares of W. P. Carey Inc. (NYSE:WPC)

Wellington Management Group LLP grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 73.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,194 shares of the real estate investment trust’s stock after purchasing an additional 15,763 shares during the period. Wellington Management Group LLP’s holdings in W. P. Carey were worth $2,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Demars Financial Group LLC raised its position in shares of W. P. Carey by 14.0% in the third quarter. Demars Financial Group LLC now owns 76,214 shares of the real estate investment trust’s stock valued at $4,122,000 after purchasing an additional 9,334 shares during the period. Marshall Wace LLP raised its position in shares of W. P. Carey by 720.1% in the second quarter. Marshall Wace LLP now owns 615,393 shares of the real estate investment trust’s stock valued at $41,576,000 after purchasing an additional 540,357 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of W. P. Carey in the third quarter valued at approximately $613,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of W. P. Carey by 5.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock valued at $11,852,000 after purchasing an additional 10,562 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. bought a new stake in shares of W. P. Carey in the third quarter valued at approximately $2,267,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Scotiabank reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Finally, Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday. They set an “equal weight” rating and a $40.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.36.

W. P. Carey Price Performance

WPC stock opened at $55.98 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $78.23. The stock has a market cap of $12.24 billion, a PE ratio of 16.96, a P/E/G ratio of 0.44 and a beta of 0.86. The firm has a 50 day simple moving average of $58.49 and a two-hundred day simple moving average of $59.17.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts predict that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.865 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.18%. W. P. Carey’s dividend payout ratio is 104.24%.

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.