W. P. Carey Inc. (NYSE:WPC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,225 shares of the real estate investment trust’s stock after purchasing an additional 2,031 shares during the period. Van ECK Associates Corp’s holdings in W. P. Carey were worth $3,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of W. P. Carey in the 1st quarter valued at $26,000. Acadian Asset Management LLC acquired a new position in shares of W. P. Carey in the 1st quarter valued at $26,000. ICA Group Wealth Management LLC acquired a new position in shares of W. P. Carey in the 4th quarter valued at $32,000. Quarry LP lifted its stake in shares of W. P. Carey by 438.5% in the 2nd quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 342 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of W. P. Carey in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 62.62% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of several research reports. StockNews.com initiated coverage on W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating on the stock. Royal Bank of Canada decreased their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $66.30.

View Our Latest Analysis on W. P. Carey

W. P. Carey Price Performance

Shares of NYSE WPC opened at $56.88 on Tuesday. The stock’s 50-day moving average is $64.07 and its two-hundred day moving average is $61.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.36 and a quick ratio of 0.12. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $85.36. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 7.26 and a beta of 0.89.

W. P. Carey (NYSE:WPCGet Free Report) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.86 dividend. The ex-dividend date was Thursday, December 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 6.05%. W. P. Carey’s payout ratio is currently 104.24%.

W. P. Carey Profile

(Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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