GSA Capital Partners LLP Takes Position in W. P. Carey Inc. (NYSE:WPC)

GSA Capital Partners LLP bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the third quarter, Holdings Channel.com reports. The fund bought 8,343 shares of the real estate investment trust’s stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 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 acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP increased its position in W. P. Carey by 6.9% during 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 period. Bank of New York Mellon Corp increased its position in W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after acquiring an additional 7,549 shares during the period. PGGM Investments increased its position in W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after acquiring an additional 389,853 shares during the period. Finally, Equity Investment Corp increased its position in W. P. Carey by 38.9% during the second 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 period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.4 %

Shares of NYSE:WPC opened at $56.48 on Wednesday. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. 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 company’s fifty day moving average is $59.29 and its 200-day moving average is $58.24. The company has a market capitalization of $12.36 billion, a PE ratio of 22.24, a P/E/G ratio of 1.04 and a beta of 0.95.

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 the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The firm had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.20%. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 137.80%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WPC shares. Royal Bank of Canada dropped their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. 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 lifted their price target 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. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.