Foundry Partners LLC Has $15.09 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Foundry Partners LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,179 shares of the real estate investment trust’s stock after selling 1,196 shares during the period. Foundry Partners LLC’s holdings in W. P. Carey were worth $15,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in W. P. Carey by 3.8% during the third quarter. EverSource Wealth Advisors LLC now owns 23,677 shares of the real estate investment trust’s stock valued at $1,475,000 after buying an additional 858 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in W. P. Carey during the third quarter valued at $640,000. Napa Wealth Management raised its position in W. P. Carey by 19.8% during the third quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 778 shares during the period. Quest Partners LLC raised its position in W. P. Carey by 747.6% during the third quarter. Quest Partners LLC now owns 108,748 shares of the real estate investment trust’s stock valued at $6,775,000 after buying an additional 95,918 shares during the period. Finally, Equity Investment Corp raised its position in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI boosted their target price 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. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

WPC opened at $56.61 on Thursday. The company has a market cap of $12.39 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.05 and a beta of 0.95. The stock has a 50-day moving average of $59.18 and a 200-day moving average of $58.22. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. 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 (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to the consensus estimate 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 was down 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 EPS. As a group, equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.875 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.18%. 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 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.