Federated Hermes Inc. Invests $1.52 Million in W. P. Carey Inc. (NYSE:WPC)

Federated Hermes Inc. purchased a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,401 shares of the real estate investment trust's stock, valued at approximately $1,517,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Central Bank & Trust Co. purchased a new position in W. P. Carey during the 4th quarter worth $28,000. FNY Investment Advisers LLC purchased a new position in W. P. Carey during the 4th quarter worth $32,000. Covestor Ltd increased its holdings in W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 595 shares during the period. First Horizon Advisors Inc. purchased a new position in W. P. Carey during the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group purchased a new position in W. P. Carey during the 3rd quarter worth $46,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Down 1.5 %

Shares of W. P. Carey stock traded down $0.85 during trading on Tuesday, reaching $54.85. The company's stock had a trading volume of 1,195,701 shares, compared to its average volume of 1,349,982. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.44 and a beta of 0.86. The company has a 50-day simple moving average of $55.96 and a two-hundred day simple moving average of $58.88.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million for the quarter, compared to analysts' expectations of $413.04 million. During the same period in the previous year, the firm posted $1.29 EPS. W. P. Carey's revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts forecast that W. P. Carey Inc. will post 4.56 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 6.31%. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. W. P. Carey's payout ratio is presently 104.85%.

Analysts Set New Price Targets

Several research firms have commented on WPC. StockNews.com began coverage on W. P. Carey in a report on Thursday, January 4th. They set a "hold" rating on the stock. Royal Bank of Canada dropped their target price on W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. Scotiabank dropped their target price on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Monday, March 4th. Barclays assumed coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 target price on the stock. Finally, Raymond James cut W. P. Carey from an "outperform" rating to a "market perform" rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $63.36.

About W. P. Carey

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.