Charles Schwab Investment Management Inc. Boosts Stake in W. P. Carey Inc. (NYSE:WPC)

Charles Schwab Investment Management Inc. raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,598,618 shares of the real estate investment trust’s stock after purchasing an additional 103,147 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in W. P. Carey were worth $161,894,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of W. P. Carey by 93.1% in the second 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during 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 purchasing an additional 453 shares in the last quarter. Quarry LP lifted its position in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of W. P. Carey in the 2nd quarter worth $34,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey in the 2nd quarter worth about $39,000. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. Scotiabank lowered their price target on shares of 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. Royal Bank of Canada lowered their price objective on 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. UBS Group cut their target price 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. Evercore ISI lifted 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 research note on Monday, September 16th. Finally, Barclays increased 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. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

W. P. Carey stock opened at $57.10 on Monday. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The firm has a 50-day moving average of $58.95 and a two-hundred day moving average of $58.23. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings data 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 firm had revenue of $394.78 million during 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 firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. On average, research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current 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 dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.13%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 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.