Massachusetts Financial Services Co. MA Buys 195,466 Shares of W.P. Carey Inc. (NYSE:WPC)

Massachusetts Financial Services Co. MA lifted its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,218,419 shares of the real estate investment trust's stock after acquiring an additional 195,466 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.93% of W.P. Carey worth $266,224,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sei Investments Co. raised its position in W.P. Carey by 17.1% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in W.P. Carey by 13.5% during the 1st 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 period. Capital Advisors Inc. OK acquired a new position in W.P. Carey during the 1st quarter worth about $345,000. Envestnet Asset Management Inc. lifted its holdings in W.P. Carey by 4.6% during the 1st 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in W.P. Carey by 6.5% during the 4th 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 period. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Up 0.5%

WPC stock traded up $0.31 during trading on Friday, reaching $61.60. 126,899 shares of the stock were exchanged, compared to its average volume of 1,213,340. The firm's 50 day moving average is $62.40 and its 200 day moving average is $60.43. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market cap of $13.49 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 6.08 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same period last year, the company posted $1.14 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid 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 yield of 5.84%. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's dividend payout ratio is 185.57%.

Analysts Set New Price Targets

WPC has been the topic of several recent research reports. Evercore ISI lifted their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. UBS Group lowered their price objective on 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. Royal Bank Of Canada lifted their price objective 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. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. Finally, BNP Paribas set a $66.00 price objective on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.