Y Intercept Hong Kong Ltd Purchases 1,169 Shares of W. P. Carey Inc. (NYSE:WPC)

Y Intercept Hong Kong Ltd boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,699 shares of the real estate investment trust’s stock after acquiring an additional 1,169 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in W. P. Carey were worth $1,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WPC. Allspring Global Investments Holdings LLC lifted 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 buying an additional 453 shares during the last quarter. Quarry LP boosted its holdings in W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 357 shares during the period. EdgeRock Capital LLC bought a new stake in W. P. Carey during the second quarter valued at about $39,000. Maia Wealth LLC acquired a new stake in shares of W. P. Carey in the third quarter valued at about $40,000. Finally, Ridgewood Investments LLC bought a new position in shares of W. P. Carey in the second quarter worth about $41,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 0.5 %

Shares of WPC stock opened at $55.53 on Thursday. The company has a market capitalization of $12.15 billion, a P/E ratio of 21.86, a P/E/G ratio of 1.04 and a beta of 0.96. The firm has a 50-day moving average price of $57.31 and a 200 day moving average price of $58.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. 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 released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Research analysts forecast 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 was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 annualized dividend and a yield of 6.30%. W. P. Carey’s dividend payout ratio is currently 137.80%.

Analyst Ratings Changes

A number of research firms have issued reports on WPC. UBS Group lowered their target price 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. Barclays lifted their price target on shares of 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. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, 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. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average target price of $62.88.

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.