Crestline Management LP Has $304,000 Stake in W. P. Carey Inc. (NYSE:WPC)

Crestline Management LP reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 35.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,576 shares of the real estate investment trust’s stock after selling 3,043 shares during the quarter. Crestline Management LP’s holdings in W. P. Carey were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in W. P. Carey in the fourth quarter worth $139,381,000. Demars Financial Group LLC lifted its holdings in shares of W. P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of W. P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of W. P. Carey in the 4th quarter valued at approximately $31,442,000. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada increased their price objective on W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Scotiabank lifted their target price on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $108.50.

W. P. Carey Trading Up 1.7 %

NYSE WPC opened at $61.79 on Friday. The company has a market cap of $13.53 billion, a PE ratio of 29.56, a PEG ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a 50 day moving average of $61.29 and a 200-day moving average of $58.27. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.76%. W. P. Carey’s payout ratio is presently 183.51%.

About W. P. Carey

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.