Rock Point Advisors LLC Has $7.64 Million Position in W. P. Carey Inc. (NYSE:WPC)

Rock Point Advisors LLC lowered its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 122,662 shares of the real estate investment trust’s stock after selling 2,112 shares during the period. W. P. Carey accounts for about 2.1% of Rock Point Advisors LLC’s portfolio, making the stock its 18th largest position. Rock Point Advisors LLC’s holdings in W. P. Carey were worth $7,642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WPC. Price T Rowe Associates Inc. MD raised its holdings in shares of W. P. Carey by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 157,771 shares of the real estate investment trust’s stock valued at $8,906,000 after purchasing an additional 5,975 shares in the last quarter. SVB Wealth LLC bought a new position in W. P. Carey in the 1st quarter worth $214,000. B. Riley Wealth Advisors Inc. raised its holdings in W. P. Carey by 14.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,104 shares of the real estate investment trust’s stock worth $888,000 after acquiring an additional 2,058 shares during the period. Tidal Investments LLC bought a new position in W. P. Carey in the 1st quarter worth $342,000. Finally, Coppell Advisory Solutions Corp. bought a new position in W. P. Carey in the 1st quarter worth $248,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WPC. UBS Group dropped their target price 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. Barclays boosted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Scotiabank dropped their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Finally, Evercore ISI lifted their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report 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 company. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Down 1.7 %

WPC traded down $0.97 during trading hours on Tuesday, hitting $56.57. 68,760 shares of the company’s stock were exchanged, compared to its average volume of 1,206,429. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The stock’s 50-day moving average is $58.95 and its two-hundred day moving average is $58.23. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last announced its quarterly 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 during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. Sell-side 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. 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 6.19%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 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.