Rock Point Advisors LLC Lowers Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Rock Point Advisors LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,662 shares of the real estate investment trust’s stock after selling 2,112 shares during the quarter. W. P. Carey accounts for about 2.1% of Rock Point Advisors LLC’s holdings, making the stock its 18th biggest position. Rock Point Advisors LLC owned approximately 0.06% of W. P. Carey worth $7,642,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in W. P. Carey by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock valued at $173,570,000 after buying an additional 204,064 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in W. P. Carey by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock valued at $138,973,000 after buying an additional 7,549 shares in the last quarter. Finally, PGGM Investments lifted its stake in W. P. Carey by 18.5% in the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after buying an additional 389,853 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 1.7 %

Shares of WPC stock traded down $0.97 during trading hours on Tuesday, hitting $56.57. 68,760 shares of the company were exchanged, compared to its average volume of 1,206,429. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40. The business’s 50-day simple moving average is $58.95 and its two-hundred day simple moving average is $58.23. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.06 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 (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 business had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same period in the prior year, the business earned $1.32 EPS. The business’s revenue was down 11.9% on a year-over-year basis. Sell-side analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.19%. W. P. Carey’s payout ratio is 137.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Barclays upped their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their price target 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. Evercore ISI increased 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. Finally, Scotiabank reduced their price target on 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.88.

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.