Zurcher Kantonalbank Zurich Cantonalbank raised its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,288 shares of the real estate investment trust's stock after buying an additional 11,490 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in W. P. Carey were worth $5,812,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of WPC. Tidal Investments LLC purchased a new stake in shares of W. P. Carey in the first quarter valued at about $342,000. Atria Investments Inc boosted its holdings in W. P. Carey by 21.7% in the 1st quarter. Atria Investments Inc now owns 19,449 shares of the real estate investment trust's stock valued at $1,098,000 after purchasing an additional 3,466 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of W. P. Carey by 74.1% in the 2nd quarter. GAMMA Investing LLC now owns 2,232 shares of the real estate investment trust's stock valued at $123,000 after buying an additional 950 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 93.1% during the 2nd 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. Finally, DNB Asset Management AS raised its position in shares of W. P. Carey by 6.2% during the 2nd quarter. DNB Asset Management AS now owns 36,400 shares of the real estate investment trust's stock valued at $2,004,000 after buying an additional 2,138 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.
Shares of WPC opened at $56.02 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $12.26 billion, a PE ratio of 22.05, a P/E/G ratio of 1.06 and a beta of 0.95. The company's 50-day simple moving average is $58.36 and its 200-day simple moving average is $58.17. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $377.43 million. During the same period in the prior year, the business earned $1.32 EPS. The business's quarterly revenue was down 11.9% on a year-over-year basis. Analysts forecast that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This is an increase from W. P. Carey's previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.25%. W. P. Carey's dividend payout ratio is 137.80%.
Several equities research analysts have issued reports on WPC shares. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Evercore ISI raised their price objective on 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. 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 research report on Tuesday, October 1st. Scotiabank dropped their price target on shares of 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. Finally, Barclays upped their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $62.88.
Read Our Latest Stock Analysis on WPC
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider W. P. Carey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W. P. Carey wasn't on the list.
While W. P. Carey currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.