Sumitomo Mitsui Trust Group Inc. Has $40.53 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Sumitomo Mitsui Trust Group Inc. boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 650,609 shares of the real estate investment trust’s stock after purchasing an additional 8,049 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in W. P. Carey were worth $40,533,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of W. P. Carey by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 30,971,062 shares of the real estate investment trust’s stock valued at $1,748,007,000 after acquiring an additional 187,022 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after purchasing an additional 588,636 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 during the period. Bank of New York Mellon Corp increased its position in shares of 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 raised its stake in W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after buying an additional 389,853 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent analyst reports. Scotiabank lowered their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their target price 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. UBS Group cut their price target 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. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted 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 research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Up 1.7 %

Shares of WPC stock opened at $55.77 on Friday. The firm’s fifty day moving average price is $59.52 and its two-hundred day moving average price is $58.19. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The firm has a market capitalization of $12.21 billion, a P/E ratio of 21.96, a PEG ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released 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 net margin of 35.12% and a return on equity of 6.45%. The company had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the prior year, the firm posted $1.32 EPS. W. P. Carey’s revenue was down 11.9% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.875 dividend. This represents a $3.50 annualized dividend and a dividend yield of 6.28%. 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 dividend payout ratio is presently 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.