FNY Investment Advisers LLC Buys New Stake in W. P. Carey Inc. (NYSE:WPC)

FNY Investment Advisers LLC bought a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,700 shares of the real estate investment trust's stock, valued at approximately $359,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. National Pension Service acquired a new position in shares of W. P. Carey in the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in shares of W. P. Carey during the fourth quarter worth $37,000. Bessemer Group Inc. grew its stake in shares of W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of W. P. Carey during the fourth quarter worth $44,000. Finally, Plato Investment Management Ltd acquired a new position in shares of W. P. Carey during the fourth quarter worth $48,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $63.29 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.86 billion, a P/E ratio of 30.28, a PEG ratio of 1.06 and a beta of 0.80. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a 50-day moving average price of $61.28 and a 200 day moving average price of $59.26.

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 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. W. P. Carey's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. Research analysts predict that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.69%. This is an increase 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 (DPR) is presently 185.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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. Evercore ISI boosted their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Wells Fargo & Company upped their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, UBS Group reduced their target price on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $100.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.