Charles Schwab Investment Management Inc. Purchases 103,147 Shares of W. P. Carey Inc. (NYSE:WPC)

Charles Schwab Investment Management Inc. lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,598,618 shares of the real estate investment trust’s stock after purchasing an additional 103,147 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of W. P. Carey worth $161,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP increased its stake in shares of 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 purchasing an additional 357 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of W. P. Carey during the second quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC bought a new stake in shares of W. P. Carey in the 2nd quarter worth approximately $39,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WPC. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Barclays upped 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. Wells Fargo & Company restated 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. Evercore ISI upped 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. Finally, Royal Bank of Canada reduced 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 report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey Trading Up 0.4 %

Shares of WPC stock opened at $57.10 on Monday. 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 Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The stock has a market capitalization of $12.50 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.06 and a beta of 0.95. The firm’s 50 day moving average is $58.95 and its 200 day moving average is $58.23.

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). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter last year, the business earned $1.32 earnings per share. The business’s quarterly revenue was down 11.9% on a year-over-year basis. Research analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed 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 6.13%. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is 137.80%.

W. P. Carey 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.