Harbour Investments Inc. Raises Position in W. P. Carey Inc. (NYSE:WPC)

Harbour Investments Inc. increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,626 shares of the real estate investment trust’s stock after purchasing an additional 203 shares during the period. Harbour Investments Inc.’s holdings in W. P. Carey were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WPC. Kingsview Wealth Management LLC lifted its holdings in shares of W. P. Carey by 5.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,006 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 264 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of W. P. Carey by 17.2% during 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 purchasing an additional 24,970 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of W. P. Carey by 143.2% during the 1st quarter. Intech Investment Management LLC now owns 9,005 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 5,303 shares during the period. 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 valued at $1,748,007,000 after purchasing an additional 187,022 shares in the last quarter. Finally, Rockport Wealth LLC acquired a new stake in shares of W. P. Carey in the first quarter valued at about $325,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.7 %

W. P. Carey stock opened at $55.77 on Monday. The stock has a 50-day moving average price of $59.52 and a 200 day moving average price of $58.23. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The stock has a market cap of $12.21 billion, a PE ratio of 21.96, a P/E/G ratio of 1.04 and a beta of 0.95. 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 announced 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 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 business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS. Equities research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid 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 yield of 6.28%. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analysts Set New Price Targets

Several research analysts have weighed in on WPC shares. Scotiabank lowered their target price on shares of 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. Royal Bank of Canada lowered their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Evercore ISI lifted their price target 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.88.

About W. P. Carey

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.