Versor Investments LP Sells 1,815 Shares of W. P. Carey Inc. (NYSE:WPC)

Versor Investments LP decreased its position in W. P. Carey Inc. (NYSE:WPC) by 30.3% during the third quarter, Holdings Channel reports. The fund owned 4,177 shares of the real estate investment trust’s stock after selling 1,815 shares during the period. Versor Investments LP’s holdings in W. P. Carey were worth $260,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of W. P. Carey by 22.2% in the 2nd 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 purchasing an additional 588,636 shares during the period. Hsbc Holdings PLC raised its position in W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after acquiring an additional 444,785 shares during the period. Equity Investment Corp boosted its stake in shares of W. P. Carey by 38.9% during the 2nd quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after acquiring an additional 412,450 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of W. P. Carey by 6,145.1% during the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after acquiring an additional 400,782 shares during the period. Finally, PGGM Investments increased its stake in shares of W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI raised 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. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reduced their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $55.77 on Friday. 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 $12.21 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95. The firm has a fifty day moving average price of $59.52 and a 200 day moving average price of $58.21. W. P. Carey Inc. has a fifty-two week low of $53.09 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. As a group, sell-side 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 company also recently announced 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. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend 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.