Penserra Capital Management LLC Acquires 4,287 Shares of W.P. Carey Inc. (NYSE:WPC)

Penserra Capital Management LLC lifted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,571 shares of the real estate investment trust's stock after acquiring an additional 4,287 shares during the quarter. Penserra Capital Management LLC's holdings in W.P. Carey were worth $1,613,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WPC. Vanguard Group Inc. boosted its holdings in 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 valued at $1,679,110,000 after acquiring an additional 242,576 shares during the last quarter. Geode Capital Management LLC lifted its position in W.P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $219,170,000 after purchasing an additional 906,622 shares during the last quarter. Northern Trust Corp grew its position 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 worth $143,894,000 after buying an additional 758,627 shares during the period. Finally, Norges Bank bought a new stake in shares of W.P. Carey during the fourth quarter worth approximately $139,381,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. UBS Group reduced their price objective on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI lifted their price objective on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Scotiabank upped their price objective on W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Royal Bank Of Canada raised their target price on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Barclays set a $61.00 price target on W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, W.P. Carey currently has an average rating of "Hold" and a consensus price target of $100.60.

W.P. Carey Stock Down 0.8%

NYSE WPC traded down $0.49 during trading hours on Wednesday, reaching $61.81. 883,518 shares of the company's stock were exchanged, compared to its average volume of 1,166,285. 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 company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 6.97 and a beta of 0.78. The company's 50-day moving average is $62.32 and its two-hundred day moving average is $60.11. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last issued 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 company 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 5.02% and a net margin of 26.66%. The company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share. On average, analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed 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 is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's dividend payout ratio is currently 185.57%.

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.