Foundry Partners LLC Buys 23,964 Shares of W.P. Carey Inc. (NYSE:WPC)

Foundry Partners LLC boosted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,344 shares of the real estate investment trust's stock after acquiring an additional 23,964 shares during the quarter. Foundry Partners LLC owned 0.11% of W.P. Carey worth $14,789,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. increased its position in W.P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after purchasing an additional 8,197 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in W.P. Carey by 13.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after buying an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after buying an additional 26,665 shares during the last quarter. Capital Advisors Inc. OK bought a new position in W.P. Carey during the first quarter worth about $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in W.P. Carey by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after buying an additional 134,523 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of WPC stock traded up $0.37 on Friday, hitting $61.66. 892,437 shares of the company's stock were exchanged, compared to its average volume of 1,158,804. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a market cap of $13.50 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78. The company has a 50 day moving average of $62.40 and a 200 day moving average of $60.52.

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 the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million during 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%. W.P. Carey's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's dividend payout ratio is presently 185.57%.

Analyst Ratings Changes

WPC has been the topic of several recent analyst reports. Barclays set a $61.00 price objective on W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. Royal Bank Of Canada boosted their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Evercore ISI boosted their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, W.P. Carey currently has an average rating of "Hold" and a consensus price target of $104.22.

W.P. Carey Company 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.