Russell Investments Group Ltd. Increases Position in W. P. Carey Inc. (NYSE:WPC)

Russell Investments Group Ltd. boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 99.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,187 shares of the real estate investment trust's stock after acquiring an additional 175,347 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of W. P. Carey worth $22,810,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. increased its stake in shares of W. P. Carey by 3.9% in the third quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust's stock valued at $273,000 after buying an additional 191 shares in the last quarter. Gradient Capital Advisors LLC increased its stake in shares of W. P. Carey by 0.6% in the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust's stock valued at $2,215,000 after buying an additional 199 shares in the last quarter. Capital Planning Advisors LLC increased its stake in shares of W. P. Carey by 5.5% in the third quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust's stock valued at $214,000 after buying an additional 207 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in shares of W. P. Carey by 4.7% in the third quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust's stock valued at $264,000 after buying an additional 221 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in W. P. Carey by 4.6% in the third quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust's stock worth $274,000 after purchasing an additional 224 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Up 2.3 %

Shares of WPC stock traded up $1.24 on Thursday, hitting $55.87. 1,786,911 shares of the stock were exchanged, compared to its average volume of 1,360,305. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $12.23 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. The business has a 50-day moving average of $55.87 and a 200 day moving average of $58.85. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.60.

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 for the quarter, topping the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 6.35% and a net margin of 33.65%. The company had revenue of $410.38 million during the quarter, compared to analysts' expectations of $413.04 million. During the same period in the prior year, the firm earned $1.29 earnings per share. W. P. Carey's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.19%. W. P. Carey's dividend payout ratio is 131.56%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WPC shares. Wells Fargo & Company reduced their target price on W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 20th. Barclays started coverage on W. P. Carey in a report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 target price on the stock. Scotiabank reduced their target price on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a report on Monday, March 4th. Raymond James cut W. P. Carey from an "outperform" rating to a "market perform" rating in a report on Monday, February 12th. Finally, Royal Bank of Canada lowered their target price on W. P. Carey from $68.00 to $65.00 and set an "outperform" rating for the company in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey has an average rating of "Hold" and a consensus 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.