Nomura Asset Management Co. Ltd. Has $21.36 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Nomura Asset Management Co. Ltd. grew its stake in W. P. Carey Inc. (NYSE:WPC) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 342,773 shares of the real estate investment trust’s stock after buying an additional 8,277 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in W. P. Carey were worth $21,355,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its holdings in W. P. Carey by 9.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 13,550 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 1,114 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of W. P. Carey by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 143,405 shares of the real estate investment trust’s stock worth $7,894,000 after buying an additional 5,244 shares during the last quarter. ORG Partners LLC bought a new stake in shares of W. P. Carey during the 2nd quarter worth $100,000. Cornerstone Wealth Management LLC grew its stake in W. P. Carey by 18.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 21,947 shares of the real estate investment trust’s stock valued at $1,208,000 after buying an additional 3,417 shares during the last quarter. Finally, Cordatus Wealth Management LLC grew its stake in W. P. Carey by 8.8% in the 2nd quarter. Cordatus Wealth Management LLC now owns 4,747 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 384 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.2 %

Shares of WPC opened at $55.81 on Wednesday. The stock has a 50 day simple moving average of $57.43 and a 200-day simple moving average of $58.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $12.21 billion, a PE ratio of 21.97, a PEG ratio of 1.04 and a beta of 0.96. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40.

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 net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the business posted $1.32 earnings per share. The firm’s revenue was down 11.9% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a yield of 6.27%. 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 dividend payout ratio is currently 137.80%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Evercore ISI increased 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 research note on Monday, September 16th. UBS Group lowered their price target 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. Finally, Barclays raised their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.88.

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.