Wellington Management Group LLP Buys 139,212 Shares of W. P. Carey Inc. (NYSE:WPC)

Wellington Management Group LLP grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 121.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,419 shares of the real estate investment trust’s stock after purchasing an additional 139,212 shares during the period. Wellington Management Group LLP owned approximately 0.12% of W. P. Carey worth $15,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WPC. Allspring Global Investments Holdings LLC grew its holdings in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the period. Quarry LP grew 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 worth $31,000 after purchasing an additional 357 shares during the period. EdgeRock Capital LLC bought a new position in W. P. Carey in the second quarter worth $39,000. Maia Wealth LLC purchased a new position in W. P. Carey during the third quarter valued at $40,000. Finally, Ridgewood Investments LLC bought a new stake in shares of W. P. Carey during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 2.1 %

W. P. Carey stock opened at $57.02 on Friday. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The business’s fifty day moving average is $57.15 and its 200 day moving average is $58.01. The stock has a market capitalization of $12.48 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. 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 results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period in the previous year, the business earned $1.32 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The company 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. This represents a $3.52 annualized dividend and a dividend yield of 6.17%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 138.58%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WPC. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Evercore ISI lifted their target price 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 issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, Barclays lifted their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.88.

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.