4,670 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Hilltop Holdings Inc.

Hilltop Holdings Inc. acquired a new stake in W. P. Carey Inc. (NYSE:WPC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,670 shares of the real estate investment trust’s stock, valued at approximately $291,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of W. P. Carey by 22.2% in 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 purchasing an additional 588,636 shares during the period. Dimensional Fund Advisors LP raised its position in 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 valued at $173,570,000 after purchasing an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares during the period. Bank of New York Mellon Corp grew its position in shares of W. P. Carey by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after buying an additional 7,549 shares in the last quarter. Finally, PGGM Investments increased its stake in shares of W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WPC shares. Barclays upped their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. UBS Group dropped 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 note on Thursday, November 14th. Evercore ISI boosted 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 note on Monday, September 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.90 on Friday. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The business’s fifty day simple moving average is $57.65 and its 200-day simple moving average is $58.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $12.23 billion, a PE ratio of 22.01, a PEG ratio of 1.04 and a beta of 0.96.

W. P. Carey (NYSE:WPC) last announced its 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the company earned $1.32 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

W. P. Carey 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.