FNY Investment Advisers LLC Invests $359,000 in W.P. Carey Inc. (NYSE:WPC)

FNY Investment Advisers LLC bought a new position in W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,700 shares of the real estate investment trust's stock, valued at approximately $359,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of W.P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after buying an additional 242,576 shares during the last quarter. Geode Capital Management LLC raised its holdings in W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after purchasing an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in W.P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after purchasing an additional 906,622 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in W.P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock worth $143,926,000 after purchasing an additional 43,197 shares during the period. Finally, Northern Trust Corp raised its holdings in W.P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after purchasing an additional 758,627 shares during the period. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WPC. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a report on Monday, June 9th. Barclays set a $61.00 price target on W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Finally, Evercore ISI upped their price target on W.P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and a consensus target price of $100.40.

W.P. Carey Price Performance

Shares of WPC stock traded up $0.63 during trading hours on Thursday, reaching $63.63. The company had a trading volume of 1,197,217 shares, compared to its average volume of 1,167,463. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a fifty day moving average of $61.61 and a 200-day moving average of $59.35. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 7.01 and a beta of 0.80. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

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

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.66%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. W.P. Carey's dividend 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.