Pensionfund Sabic Boosts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Pensionfund Sabic increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 18.1% during the 4th quarter, Holdings Channel reports. The firm owned 52,304 shares of the real estate investment trust’s stock after purchasing an additional 8,000 shares during the quarter. Pensionfund Sabic’s holdings in W. P. Carey were worth $2,849,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 1,510.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 453 shares during the last quarter. Quarry LP boosted its stake 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 buying an additional 357 shares during the period. Maia Wealth LLC purchased a new position in W. P. Carey during the third quarter worth about $40,000. Massmutual Trust Co. FSB ADV grew its position in W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 172 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

WPC has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Monday, December 16th. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Barclays restated an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Stock Up 0.6 %

Shares of WPC stock traded up $0.31 during midday trading on Monday, reaching $55.16. 83,191 shares of the stock were exchanged, compared to its average volume of 796,946. The firm has a market cap of $12.07 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company’s 50 day moving average is $55.78 and its two-hundred day moving average is $57.88. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. 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 issued its quarterly 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). The business 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 was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. On average, equities research analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.38%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

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.