Oppenheimer & Co. Inc. Has $639,000 Position in W. P. Carey Inc. (NYSE:WPC)

Oppenheimer & Co. Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,253 shares of the real estate investment trust’s stock after selling 230 shares during the period. Oppenheimer & Co. Inc.’s holdings in W. P. Carey were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP increased its stake in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares during the last quarter. Lynx Investment Advisory purchased a new stake in W. P. Carey during the second quarter valued at about $34,000. Finally, Maia Wealth LLC purchased a new stake in W. P. Carey during the third quarter valued at about $40,000. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank dropped their target price on shares of 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. Barclays raised their target price on shares of 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. Finally, UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $56.61 on Thursday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.04 and a beta of 0.95. The company’s 50-day moving average price is $59.18 and its 200 day moving average price is $58.22. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its 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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the business posted $1.32 earnings per share. W. P. Carey’s revenue was down 11.9% on a year-over-year basis. As a group, 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 business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.18%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 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.