Millennium Management LLC Has $29.36 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Millennium Management LLC lifted its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 514.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 538,933 shares of the real estate investment trust's stock after buying an additional 451,262 shares during the quarter. Millennium Management LLC owned about 0.25% of W. P. Carey worth $29,361,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of W. P. Carey by 130.2% in the 4th quarter. Janus Henderson Group PLC now owns 27,585 shares of the real estate investment trust's stock valued at $1,503,000 after purchasing an additional 15,600 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of W. P. Carey by 16.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 156,091 shares of the real estate investment trust's stock valued at $8,504,000 after acquiring an additional 22,516 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in W. P. Carey by 47.8% in the 4th quarter. EP Wealth Advisors LLC now owns 12,637 shares of the real estate investment trust's stock worth $688,000 after purchasing an additional 4,088 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in W. P. Carey during the fourth quarter worth approximately $194,000. Finally, Baird Financial Group Inc. boosted its position in W. P. Carey by 234.6% during the fourth quarter. Baird Financial Group Inc. now owns 51,003 shares of the real estate investment trust's stock worth $2,779,000 after purchasing an additional 35,761 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of research analyst reports. Barclays raised their target price on shares of W. P. Carey from $60.00 to $61.00 and gave the company an "underweight" rating in a research note on Wednesday. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. UBS Group dropped their price target on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada raised their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of "Hold" and a consensus price target of $109.00.

W. P. Carey Stock Performance

WPC traded down $0.15 on Thursday, hitting $60.21. 1,401,510 shares of the stock traded hands, compared to its average volume of 1,174,196. The business has a fifty day moving average price of $60.89 and a two-hundred day moving average price of $58.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.18 billion, a PE ratio of 28.81, a P/E/G ratio of 1.06 and a beta of 0.78. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

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 the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. W. P. Carey's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. On average, research analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.91%. 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. W. P. Carey's dividend payout ratio is 183.51%.

W. P. Carey 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.