Cohen Capital Management Inc. Acquires 851 Shares of W. P. Carey Inc. (NYSE:WPC)

Cohen Capital Management Inc. grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 56,059 shares of the real estate investment trust’s stock after acquiring an additional 851 shares during the period. Cohen Capital Management Inc.’s holdings in W. P. Carey were worth $3,492,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WPC. Richardson Financial Services Inc. purchased a new position in W. P. Carey in the 1st quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 231 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 453 shares during the last quarter. Quarry LP grew its stake in 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 in the last quarter. Finally, Lynx Investment Advisory bought a new stake in W. P. Carey in the 2nd quarter valued at $34,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reduced their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays upped their price objective 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. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.25.

Insider Buying and Selling

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $55.87 per share, with a total value of $195,545.00. Following the transaction, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.08% of the stock is owned by corporate insiders.

W. P. Carey Stock Up 0.9 %

Shares of WPC opened at $55.60 on Monday. The company has a quick ratio of 1.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52-week low of $53.01 and a 52-week high of $67.40. The company has a market cap of $12.17 billion, a PE ratio of 21.70, a P/E/G ratio of 1.04 and a beta of 0.95. The business has a fifty day moving average of $60.44 and a 200 day moving average of $58.20.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm 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%. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. On average, sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.29%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

W. P. Carey Company 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.