5,250 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,250 shares of the real estate investment trust’s stock, valued at approximately $286,000.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 453 shares during the last quarter. Quarry LP raised 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 acquiring an additional 357 shares during the last quarter. Maia Wealth LLC purchased a new stake in shares of W. P. Carey during the third quarter worth about $40,000. Massmutual Trust Co. FSB ADV grew its stake in shares of W. P. Carey by 35.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Barclays restated an “underweight” rating and issued a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Monday, December 16th. Finally, UBS Group decreased their price target on shares of 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.25.

W. P. Carey Price Performance

WPC stock opened at $55.01 on Wednesday. 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 firm has a 50 day moving average price of $55.69 and a 200-day moving average price of $57.88. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.04 and a beta of 0.97.

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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the previous year, the firm posted $1.32 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.40%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Tuesday, December 31st. W. P. Carey’s dividend payout ratio is 138.58%.

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.