Signet Financial Management LLC Acquires New Holdings in W. P. Carey Inc. (NYSE:WPC)

Signet Financial Management LLC bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 35,644 shares of the real estate investment trust’s stock, valued at approximately $1,942,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of W. P. Carey by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 worth $178,401,000 after buying an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after acquiring an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of W. P. Carey by 4.1% in the third 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 acquiring an additional 103,147 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after acquiring an additional 1,784,131 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.6 %

Shares of WPC traded down $0.31 during trading hours on Monday, hitting $53.57. The stock had a trading volume of 1,487,443 shares, compared to its average volume of 1,238,153. The company’s fifty day simple moving average is $55.62 and its 200 day simple moving average is $57.86. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $67.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $11.72 billion, a P/E ratio of 21.09, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities research 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. Stockholders of record on Tuesday, December 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.57%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 138.58%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WPC shares. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays reissued an “underweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. Evercore ISI lifted their target price 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.57.

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.