Edgestream Partners L.P. Takes $6.61 Million Position in W.P. Carey Inc. (NYSE:WPC)

Edgestream Partners L.P. purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 104,769 shares of the real estate investment trust's stock, valued at approximately $6,612,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WPC. Sei Investments Co. lifted its position in W.P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after purchasing an additional 8,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after purchasing an additional 1,442 shares during the period. Capital Advisors Inc. OK acquired a new stake in W.P. Carey in the first quarter valued at about $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in W.P. Carey by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock valued at $119,235,000 after purchasing an additional 134,523 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in W.P. Carey by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock valued at $38,272,000 after purchasing an additional 26,665 shares during the period. Hedge funds and other institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research report on Monday, June 9th. Finally, Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $104.22.

W.P. Carey Stock Down 0.6%

Shares of W.P. Carey stock traded down $0.40 during trading on Thursday, reaching $61.37. The company had a trading volume of 1,003,015 shares, compared to its average volume of 1,158,074. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The firm's fifty day moving average is $62.39 and its 200-day moving average is $60.38. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same period in the prior year, the company earned $1.14 EPS. W.P. Carey's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.87%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio is 185.57%.

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.