PFG Investments LLC Acquires 4,346 Shares of W. P. Carey Inc. (NYSE:WPC)

PFG Investments LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 53.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,412 shares of the real estate investment trust’s stock after buying an additional 4,346 shares during the period. PFG Investments LLC’s holdings in W. P. Carey were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WPC. Public Sector Pension Investment Board boosted its stake in W. P. Carey by 4.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,960 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 924 shares during the last quarter. Bank of Montreal Can grew its holdings in W. P. Carey by 8.5% during the second quarter. Bank of Montreal Can now owns 33,811 shares of the real estate investment trust’s stock worth $1,871,000 after buying an additional 2,659 shares in the last quarter. MBB Public Markets I LLC bought a new stake in W. P. Carey during the second quarter worth $874,000. Millennium Management LLC bought a new position in W. P. Carey during the 2nd quarter valued at $4,043,000. Finally, Quarry LP lifted its stake in W. P. Carey by 175.9% during the 2nd 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 in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WPC. Barclays reissued an “underweight” rating and set a $59.00 price target (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Scotiabank cut their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.43.

W. P. Carey Stock Performance

NYSE:WPC opened at $54.79 on Thursday. The company has a market capitalization of $11.99 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.00 and a beta of 0.97. The business has a fifty day simple moving average of $55.49 and a two-hundred day simple moving average of $57.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26.

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 analysts’ consensus estimates of $1.13 by ($0.62). The firm 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 company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. On average, analysts expect that W. P. Carey Inc. will post 4.49 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.43%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 138.58%.

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.