Metis Global Partners LLC Buys 5,375 Shares of W. P. Carey Inc. (NYSE:WPC)

Metis Global Partners LLC lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,131 shares of the real estate investment trust’s stock after purchasing an additional 5,375 shares during the quarter. Metis Global Partners LLC’s holdings in W. P. Carey were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of W. P. Carey by 93.1% during 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 453 shares in the last quarter. Quarry LP grew its position in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares during the last quarter. Lynx Investment Advisory acquired a new position in W. P. Carey in the 2nd quarter worth about $34,000. Finally, EdgeRock Capital LLC acquired a new position in shares of W. P. Carey in the second quarter valued at approximately $39,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

WPC stock opened at $55.77 on Friday. The business has a 50 day moving average of $59.52 and a 200-day moving average of $58.21. The firm has a market cap of $12.21 billion, a PE ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $53.09 and a 12-month high of $67.40. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

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 (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. As a group, sell-side analysts expect 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. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. This is a boost 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 presently 137.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WPC. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company reiterated 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 report on Tuesday, October 1st. Evercore ISI upped their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada cut their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.