Metis Global Partners LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,685 shares of the real estate investment trust’s stock, valued at approximately $285,000.
A number of other hedge funds and other institutional investors have also modified their holdings of WPC. Fairfield Bush & CO. purchased a new position in shares of W. P. Carey in the first quarter worth approximately $26,000. American Century Companies Inc. purchased a new position in W. P. Carey during the 1st quarter worth approximately $488,000. Natixis Advisors L.P. acquired a new stake in W. P. Carey during the 1st quarter valued at $1,016,000. Acadian Asset Management LLC purchased a new stake in shares of W. P. Carey in the first quarter valued at $26,000. Finally, MetLife Investment Management LLC purchased a new position in shares of W. P. Carey during the first quarter valued at $305,000. Institutional investors and hedge funds own 63.11% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on WPC shares. JMP Securities decreased their price objective on W. P. Carey from $86.00 to $80.00 in a research report on Friday, June 23rd. StockNews.com began coverage on shares of W. P. Carey in a report on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $81.00 to $79.00 and set an “outperform” rating for the company in a report on Monday, July 31st. Finally, BNP Paribas began coverage on shares of W. P. Carey in a report on Wednesday, June 14th. They set an “underperform” rating and a $74.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, W. P. Carey presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.
W. P. Carey Price Performance
Shares of WPC opened at $66.86 on Friday. The firm has a market cap of $14.30 billion, a PE ratio of 18.73, a PEG ratio of 8.29 and a beta of 0.76. The firm’s 50 day moving average price is $69.04 and its 200 day moving average price is $73.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.17 and a current ratio of 0.17. W. P. Carey Inc. has a twelve month low of $65.78 and a twelve month high of $89.40.
W. P. Carey (NYSE:WPC – Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.62). The business had revenue of $452.60 million for the quarter, compared to the consensus estimate of $430.48 million. W. P. Carey had a net margin of 45.21% and a return on equity of 8.28%. W. P. Carey’s revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 EPS. As a group, research analysts expect that W. P. Carey Inc. will post 5.21 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $1.069 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date was Thursday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.40%. W. P. Carey’s dividend payout ratio (DPR) is currently 119.89%.
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.
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