Van ECK Associates Corp Buys 10,409 Shares of W. P. Carey Inc. (NYSE:WPC)

Van ECK Associates Corp raised its stake in W. P. Carey Inc. (NYSE:WPC) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,733 shares of the real estate investment trust’s stock after acquiring an additional 10,409 shares during the period. Van ECK Associates Corp’s holdings in W. P. Carey were worth $5,828,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Equity Investment Corp bought a new stake in shares of W. P. Carey in the 1st quarter worth about $59,802,000. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $178,401,000 after buying an additional 588,636 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after buying an additional 444,785 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after acquiring an additional 400,782 shares during the last quarter. Finally, PGGM Investments boosted its holdings in shares of W. P. Carey by 18.5% in the 2nd 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. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPC has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Scotiabank cut their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a 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 report on Monday, September 16th. UBS Group boosted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Trading Up 0.6 %

Shares of NYSE WPC opened at $55.73 on Friday. W. P. Carey Inc. has a fifty-two week low of $53.01 and a fifty-two week high of $67.40. The firm has a market capitalization of $12.20 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.03 and a beta of 0.95. 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’s 50 day simple moving average is $60.11 and its 200 day simple moving average is $58.20.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share 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 during the quarter, compared to analyst estimates of $377.43 million. During the same period last year, the company earned $1.32 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio is 137.80%.

About W. P. Carey

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.