Amalgamated Bank Purchases 104,340 Shares of W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank grew its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 512.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,702 shares of the real estate investment trust's stock after buying an additional 104,340 shares during the quarter. Amalgamated Bank owned 0.06% of W. P. Carey worth $8,082,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Central Bank & Trust Co. purchased a new stake in W. P. Carey in the fourth quarter worth approximately $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey in the 4th quarter valued at $32,000. Covestor Ltd grew its holdings in shares of W. P. Carey by 316.5% during the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 595 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in W. P. Carey in the 3rd quarter worth $45,000. Finally, Provence Wealth Management Group purchased a new position in W. P. Carey in the 3rd quarter worth $46,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Up 1.4 %

WPC stock traded up $0.76 during trading on Friday, reaching $56.68. The company had a trading volume of 1,392,562 shares, compared to its average volume of 1,164,508. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.60. The business has a 50 day moving average of $55.87 and a 200 day moving average of $58.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.62. The company has a market cap of $12.40 billion, a P/E ratio of 21.55, a PEG ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $410.38 million for the quarter, compared to analysts' expectations of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, sell-side analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 6.10%. 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. W. P. Carey's dividend payout ratio is 131.56%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Scotiabank reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Monday, March 4th. Raymond James lowered W. P. Carey from an "outperform" rating to a "market perform" rating in a research report on Monday, February 12th. Barclays initiated coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $40.00 price objective for the company. Wells Fargo & Company dropped their price objective on W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada decreased their target price on shares of W. P. Carey from $65.00 to $63.00 and set an "outperform" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $63.18.

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.