Penserra Capital Management LLC Buys 3,884 Shares of W. P. Carey Inc. (NYSE:WPC)

Penserra Capital Management LLC raised its position in W. P. Carey Inc. (NYSE:WPC) by 21.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,404 shares of the real estate investment trust’s stock after acquiring an additional 3,884 shares during the quarter. Penserra Capital Management LLC’s holdings in W. P. Carey were worth $1,394,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC increased its position in shares of W. P. Carey by 5.2% during the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after acquiring an additional 198 shares in the last quarter. Kowal Investment Group LLC raised its holdings in W. P. Carey by 3.4% in the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 199 shares during the last quarter. Harbour Investments Inc. lifted its position in W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 203 shares in the last quarter. Finally, Creative Planning boosted its stake in W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.2 %

Shares of WPC opened at $56.84 on Wednesday. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The company has a 50 day simple moving average of $58.83 and a two-hundred day simple moving average of $58.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $12.44 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last announced 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 return on equity of 6.45% and a net margin of 35.12%. The company had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the previous year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, equities analysts expect that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.16%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WPC shares. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Scotiabank reduced 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 note on Wednesday, August 7th. 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 report on Monday, September 16th. Barclays raised their target price 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. Finally, Royal Bank of Canada decreased their target price on shares of 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. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price 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.