Victory Capital Management Inc. Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Victory Capital Management Inc. grew its position in shares of W. P. Carey Inc. (NYSE:WPC) by 649.4% in the third quarter, HoldingsChannel reports. The firm owned 553,879 shares of the real estate investment trust’s stock after buying an additional 479,973 shares during the quarter. Victory Capital Management Inc.’s holdings in W. P. Carey were worth $34,507,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. US Bancorp DE increased its stake in W. P. Carey by 0.7% in the 1st quarter. US Bancorp DE now owns 35,203 shares of the real estate investment trust’s stock worth $1,987,000 after acquiring an additional 244 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in W. P. Carey by 5.6% during the first quarter. Kingsview Wealth Management LLC now owns 5,006 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 264 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of W. P. Carey by 17.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,780 shares of the real estate investment trust’s stock worth $9,566,000 after buying an additional 24,970 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of W. P. Carey by 143.2% in the 1st quarter. Intech Investment Management LLC now owns 9,005 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 5,303 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock worth $1,748,007,000 after buying an additional 187,022 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WPC shares. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank decreased their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. UBS Group dropped their price objective 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. Evercore ISI increased 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 research note on Monday, September 16th. Finally, Royal Bank of Canada dropped their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 1.7 %

NYSE WPC opened at $55.77 on Friday. The stock has a market cap of $12.21 billion, a PE ratio of 21.96, a PEG ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company’s 50-day moving average price is $59.52 and its 200-day moving average price is $58.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations 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 was down 11.9% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.875 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio is presently 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.