Millennium Management LLC Invests $4.04 Million in W. P. Carey Inc. (NYSE:WPC)

Millennium Management LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 73,435 shares of the real estate investment trust’s stock, valued at approximately $4,043,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC lifted its position in shares of W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 8,843 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of W. P. Carey by 69.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after acquiring an additional 9,353 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of W. P. Carey by 2.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after acquiring an additional 9,324 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after acquiring an additional 9,619 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of W. P. Carey by 16,416.8% in the 4th quarter. American International Group Inc. now owns 295,320 shares of the real estate investment trust’s stock worth $19,140,000 after acquiring an additional 293,532 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of WPC stock opened at $59.82 on Friday. The company has a 50 day moving average price of $60.20 and a 200-day moving average price of $57.92. W. P. Carey Inc. has a 52 week low of $51.60 and a 52 week high of $67.40. The firm has a market capitalization of $13.09 billion, a PE ratio of 22.75, a P/E/G ratio of 1.11 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.85%. W. P. Carey’s dividend payout ratio (DPR) is presently 133.08%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WPC. Scotiabank decreased 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 research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective 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. UBS Group raised their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, Barclays raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.25.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.08% of the stock is currently owned by insiders.

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.