Quest Partners LLC Has $6.78 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Quest Partners LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 747.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,748 shares of the real estate investment trust’s stock after acquiring an additional 95,918 shares during the period. W. P. Carey comprises 0.6% of Quest Partners LLC’s holdings, making the stock its 2nd biggest holding. Quest Partners LLC’s holdings in W. P. Carey were worth $6,775,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC increased its holdings in shares of W. P. Carey by 5.6% during the first quarter. Kingsview Wealth Management LLC now owns 5,006 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 264 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in W. P. Carey by 17.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 169,780 shares of the real estate investment trust’s stock worth $9,566,000 after purchasing an additional 24,970 shares in the last quarter. Intech Investment Management LLC increased its holdings in W. P. Carey by 143.2% in the 1st quarter. Intech Investment Management LLC now owns 9,005 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 5,303 shares in the last quarter. Vanguard Group Inc. raised its position in W. P. Carey by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after purchasing an additional 187,022 shares during the last quarter. Finally, Rockport Wealth LLC acquired a new stake in shares of W. P. Carey during the first quarter valued at about $325,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.7 %

Shares of NYSE:WPC opened at $55.77 on Monday. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day moving average is $59.52 and its 200-day moving average is $58.23. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.04 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.28%. W. P. Carey’s dividend payout ratio is currently 137.80%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WPC. Wells Fargo & Company reiterated an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. UBS Group dropped 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. Evercore ISI lifted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lifted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.88.

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.