Quantinno Capital Management LP Increases Stake in W. P. Carey Inc. (NYSE:WPC)

Quantinno Capital Management LP boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,884 shares of the real estate investment trust’s stock after acquiring an additional 1,504 shares during the quarter. Quantinno Capital Management LP’s holdings in W. P. Carey were worth $1,426,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 1,510.0% in the second 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 last quarter. Quarry LP raised its position 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 valued at $31,000 after purchasing an additional 357 shares during the period. EdgeRock Capital LLC purchased a new stake in W. P. Carey in the second quarter valued at $39,000. Maia Wealth LLC purchased a new stake in shares of W. P. Carey in the 3rd quarter valued at $40,000. Finally, Ridgewood Investments LLC acquired a new position in W. P. Carey during the 2nd quarter worth about $41,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research reports. Evercore ISI increased their target price on 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. UBS Group dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company restated an “equal weight” rating and set 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 raised their price target on 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. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Up 0.6 %

WPC opened at $55.89 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $57.21 and a 200-day simple moving average of $57.99. The stock has a market capitalization of $12.23 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.04 and a beta of 0.96. 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 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 the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company 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 dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.30%. W. P. Carey’s payout ratio is currently 137.80%.

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.