Ridgewood Investments LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 750 shares of the real estate investment trust’s stock, valued at approximately $58,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in W. P. Carey by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock worth $2,209,731,000 after purchasing an additional 1,016,340 shares during the period. State Street Corp lifted its position in shares of W. P. Carey by 17.1% during the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock valued at $783,467,000 after buying an additional 1,400,997 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of W. P. Carey by 104,493.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock valued at $360,716,000 after acquiring an additional 4,611,275 shares during the period. Geode Capital Management LLC raised its stake in W. P. Carey by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 3,479,492 shares of the real estate investment trust’s stock worth $271,682,000 after acquiring an additional 126,162 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in W. P. Carey by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,752,880 shares of the real estate investment trust’s stock valued at $215,138,000 after purchasing an additional 193,465 shares in the last quarter. 63.11% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other W. P. Carey news, Director Mark A. Alexander acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were purchased at an average price of $72.48 per share, for a total transaction of $72,480.00. Following the completion of the purchase, the director now directly owns 26,118 shares of the company’s stock, valued at $1,893,032.64. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.11% of the stock is currently owned by insiders.
W. P. Carey Stock Up 0.0 %
W. P. Carey (NYSE:WPC – Get Free Report) last announced its earnings results on Friday, April 28th. The real estate investment trust reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.12. W. P. Carey had a return on equity of 8.47% and a net margin of 47.26%. The firm had revenue of $427.80 million for the quarter, compared to the consensus estimate of $406.24 million. During the same period in the previous year, the business earned $1.35 EPS. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. As a group, research analysts expect that W. P. Carey Inc. will post 5.21 earnings per share for the current fiscal year.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $1.069 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.32%. W. P. Carey’s dividend payout ratio is currently 120.23%.
Analyst Ratings Changes
A number of research firms have commented on WPC. JMP Securities decreased their price target on W. P. Carey from $86.00 to $80.00 in a report on Friday, June 23rd. 92 Resources reissued a “maintains” rating on shares of W. P. Carey in a report on Monday, May 1st. StockNews.com began coverage on W. P. Carey in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, BNP Paribas began coverage on W. P. Carey in a research note on Wednesday, June 14th. They issued an “underperform” rating and a $74.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.80.
W. P. Carey Company Profile
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $25 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,446 net lease properties covering approximately 176 million square feet and a portfolio of 84 self-storage operating properties, as of March 31, 2023.
Read More
- Five stocks we like better than W. P. Carey
- 3 Stocks that Analysts Continue to Upgrade into Earnings Season
- Meta Threads Its Way To New HeightsÂ
- Helen of Troy and NanoString Technologies Trade Set-ups
- Profit Taking Hits Home for Specialty Retailers
- The 3 Hot Sectors To Watch During The Summer Reporting Season
Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.
