Verdence Capital Advisors LLC Buys 459 Shares of W. P. Carey Inc. (NYSE:WPC)

Verdence Capital Advisors LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 117,012 shares of the real estate investment trust’s stock after acquiring an additional 459 shares during the period. Verdence Capital Advisors LLC’s holdings in W. P. Carey were worth $7,290,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. HB Wealth Management LLC grew its holdings in W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after acquiring an additional 8,843 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co raised its position in W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in W. P. Carey by 9.8% in the 2nd quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after buying an additional 9,619 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 1.8 %

Shares of NYSE WPC opened at $56.73 on Friday. W. P. Carey Inc. has a 1 year low of $53.01 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 firm has a 50-day moving average of $60.04 and a 200 day moving average of $58.20. The stock has a market cap of $12.41 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced 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). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the prior year, the business posted $1.32 EPS. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.17%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is 137.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Scotiabank reduced their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI raised their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada cut their target price on shares of 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. Finally, Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eight 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, W. P. Carey presently has an average rating of “Hold” and an average price target of $63.25.

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.