HGI Capital Management LLC Invests $4.59 Million in W. P. Carey Inc. (NYSE:WPC)

HGI Capital Management LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 73,728 shares of the real estate investment trust’s stock, valued at approximately $4,593,000. W. P. Carey makes up 4.0% of HGI Capital Management LLC’s holdings, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board lifted its holdings in W. P. Carey by 29.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 28,520 shares of the real estate investment trust’s stock valued at $1,777,000 after buying an additional 6,560 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in W. P. Carey by 14.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,288 shares of the real estate investment trust’s stock valued at $5,812,000 after buying an additional 11,490 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey during the 3rd quarter valued at about $44,000. Finally, CreativeOne Wealth LLC lifted its holdings in W. P. Carey by 14.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 523 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WPC. Evercore ISI lifted their price objective 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. 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 report on Thursday, August 1st. Barclays raised their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Scotiabank cut their target price 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. Finally, Wells Fargo & Company reissued 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Up 1.2 %

Shares of W. P. Carey stock opened at $57.51 on Friday. The firm’s 50 day moving average price is $58.58 and its 200-day moving average price is $58.21. 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 Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The company has a market cap of $12.59 billion, a P/E ratio of 22.64, a PEG ratio of 1.07 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last issued 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 analysts’ expectations of $377.43 million. During the same period in the previous year, the firm earned $1.32 EPS. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. On average, 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 business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.09%. The ex-dividend date was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 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.