Rock Point Advisors LLC Decreases Stock Position in W.P. Carey Inc. (NYSE:WPC)

Rock Point Advisors LLC lessened its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,525 shares of the real estate investment trust's stock after selling 11,397 shares during the quarter. W.P. Carey accounts for approximately 2.2% of Rock Point Advisors LLC's holdings, making the stock its 15th biggest position. Rock Point Advisors LLC owned approximately 0.05% of W.P. Carey worth $7,228,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WPC. Vanguard Group Inc. raised its position in W.P. Carey by 0.8% in the 4th 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 position 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 buying an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 buying an additional 906,622 shares during the last quarter. Northern Trust Corp raised its position 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 buying an additional 758,627 shares during the last quarter. Finally, Norges Bank purchased a new position in W.P. Carey in the 4th quarter worth about $139,381,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WPC. Royal Bank Of Canada boosted their target price on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BNP Paribas Exane raised 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. 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. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $100.60.

W.P. Carey Price Performance

WPC stock traded up $0.47 during midday trading on Friday, hitting $62.95. The company's stock had a trading volume of 655,977 shares, compared to its average volume of 1,166,219. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 6.88 and a beta of 0.78. The company has a 50 day moving average of $62.32 and a two-hundred day moving average of $60.17.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently announced 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 an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date 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.