W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Equity Investment Corp

Equity Investment Corp raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,481,627 shares of the real estate investment trust’s stock after purchasing an additional 9,610 shares during the quarter. W. P. Carey comprises 2.1% of Equity Investment Corp’s portfolio, making the stock its 22nd largest position. Equity Investment Corp’s holdings in W. P. Carey were worth $92,305,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in W. P. Carey by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after purchasing an additional 187,022 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of W. P. Carey by 22.2% in the second 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 acquiring an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of W. P. Carey by 0.3% in the second 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 acquiring an additional 7,549 shares in the last quarter. Finally, PGGM Investments increased its position in shares of W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.7 %

NYSE WPC opened at $55.77 on Monday. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95. The company’s fifty day moving average price is $59.52 and its two-hundred day moving average price is $58.23.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter last year, the company earned $1.32 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. As a group, research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share 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 paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is 137.80%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group dropped 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Evercore ISI increased their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada lowered their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight 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 has a consensus rating of “Hold” and a consensus price target of $62.88.

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.