Fisher Asset Management LLC Sells 555 Shares of W. P. Carey Inc. (NYSE:WPC)

Fisher Asset Management LLC reduced its position in shares of W. P. Carey Inc. (NYSE:WPC) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,435 shares of the real estate investment trust’s stock after selling 555 shares during the period. Fisher Asset Management LLC’s holdings in W. P. Carey were worth $276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 22.2% during 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 acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after purchasing an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after purchasing an additional 103,147 shares during the period. Bank of New York Mellon Corp grew its holdings in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after buying an additional 7,549 shares during the last quarter. Finally, PGGM Investments increased its position in 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 buying an additional 389,853 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the subject of several research reports. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. 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. Finally, Scotiabank lowered their price target on 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Down 0.8 %

Shares of WPC opened at $57.06 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $58.36 and a two-hundred day moving average price of $58.18. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40.

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

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.13%. W. P. Carey’s dividend payout ratio is presently 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.