W. P. Carey Inc. (NYSE:WPC) Shares Bought by Foundry Partners LLC

Foundry Partners LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 22.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,498 shares of the real estate investment trust’s stock after acquiring an additional 32,290 shares during the period. Foundry Partners LLC owned 0.08% of W. P. Carey worth $11,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. SouthState Corp boosted its stake in shares of W. P. Carey by 6.7% in the fourth quarter. SouthState Corp now owns 1,928 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 121 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in W. P. Carey by 20.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 134 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its stake in W. P. Carey by 1.5% during the first quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust’s stock worth $706,000 after buying an additional 143 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in W. P. Carey by 1.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 9,857 shares of the real estate investment trust’s stock worth $763,000 after buying an additional 145 shares during the last quarter. Finally, Thrive Wealth Management LLC boosted its stake in W. P. Carey by 3.3% during the first quarter. Thrive Wealth Management LLC now owns 4,611 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 149 shares during the last quarter. 62.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WPC shares. BNP Paribas started coverage on W. P. Carey in a research note on Wednesday, June 14th. They set an “underperform” rating and a $74.00 price objective on the stock. JMP Securities reduced their target price on W. P. Carey from $86.00 to $80.00 in a research report on Friday, June 23rd. Bank of America downgraded W. P. Carey from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $78.00 to $67.00 in a research report on Monday, August 14th. StockNews.com initiated coverage on W. P. Carey in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada cut their price objective on W. P. Carey from $81.00 to $79.00 and set an “outperform” rating on the stock in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus target price of $77.29.

W. P. Carey Trading Down 1.5 %

WPC opened at $63.12 on Tuesday. W. P. Carey Inc. has a 12 month low of $62.68 and a 12 month high of $85.94. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 7.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day moving average price of $66.54 and a 200 day moving average price of $70.41.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, July 28th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.62). The company had revenue of $452.60 million for the quarter, compared to analyst estimates of $430.48 million. W. P. Carey had a return on equity of 8.28% and a net margin of 45.21%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Sell-side analysts expect that W. P. Carey Inc. will post 5.21 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $1.071 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. This represents a $4.28 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Thursday, September 28th. W. P. Carey’s dividend payout ratio is currently 119.89%.

W. P. Carey Profile

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.