Ballentine Partners LLC Grows Stock Position in W. P. Carey Inc. (NYSE:WPC)

Ballentine Partners LLC increased its holdings in W. P. Carey Inc. (NYSE:WPC) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,131 shares of the real estate investment trust’s stock after buying an additional 559 shares during the quarter. Ballentine Partners LLC’s holdings in W. P. Carey were worth $388,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after acquiring an additional 1,784,131 shares during the last quarter. Victory Capital Management Inc. grew its holdings in W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares during the period. FMR LLC increased its position in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of W. P. Carey by 274.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock valued at $25,282,000 after buying an additional 297,432 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Down 0.6 %

Shares of WPC stock opened at $54.83 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $65.76. The stock’s 50-day moving average price is $55.54 and its 200-day moving average price is $57.82.

W. P. Carey (NYSE:WPC) last released 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 return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm earned $1.32 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. Equities research analysts predict that W. P. Carey Inc. will post 4.5 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Barclays reaffirmed an “underweight” rating and issued a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Scotiabank lowered 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. Finally, UBS Group cut their target price 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. One equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.43.

About W. P. Carey

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.