W. P. Carey Inc. (NYSE:WPC) Position Raised by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in W. P. Carey Inc. (NYSE:WPC) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,335 shares of the real estate investment trust’s stock after buying an additional 1,587 shares during the period. Nordea Investment Management AB’s holdings in W. P. Carey were worth $888,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of WPC. Quarry LP increased its holdings in shares of W. P. Carey by 175.9% in 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 in the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey in the third quarter valued at $40,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WPC. 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 report on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday. UBS Group lowered their price objective on shares of 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. Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Barclays reiterated an “underweight” rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $62.57.

W. P. Carey Trading Down 1.6 %

W. P. Carey stock opened at $53.93 on Monday. The company’s fifty day simple moving average is $55.62 and its 200-day simple moving average is $57.86. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The stock has a market cap of $11.80 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data 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). 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 company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.53%. W. P. Carey’s dividend payout ratio is currently 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.