W. P. Carey Inc. (NYSE:WPC) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 74.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,972 shares of the real estate investment trust's stock after buying an additional 44,788 shares during the period. QRG Capital Management Inc.'s holdings in W. P. Carey were worth $6,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WPC. Central Bank & Trust Co. purchased a new position in W. P. Carey during the fourth quarter worth $28,000. FNY Investment Advisers LLC bought a new stake in W. P. Carey in the fourth quarter worth about $32,000. EdgeRock Capital LLC bought a new stake in W. P. Carey in the fourth quarter worth about $32,000. Covestor Ltd boosted its position in shares of W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 595 shares during the period. Finally, First Horizon Advisors Inc. bought a new position in shares of W. P. Carey during the third quarter valued at approximately $45,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Up 0.5 %

Shares of WPC stock traded up $0.28 during mid-day trading on Monday, hitting $58.67. 999,796 shares of the stock traded hands, compared to its average volume of 1,340,476. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The stock has a market cap of $12.84 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The stock's fifty day moving average is $56.08 and its two-hundred day moving average is $59.07.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The company had revenue of $410.38 million during the quarter, compared to analysts' expectations of $413.04 million. During the same quarter in the prior year, the company posted $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 predict that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 5.90%. W. P. Carey's dividend payout ratio (DPR) is 131.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 price objective for the company. Raymond James downgraded W. P. Carey from an "outperform" rating to a "market perform" rating in a report on Monday, February 12th. Royal Bank of Canada lowered their target price on W. P. Carey from $65.00 to $63.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Scotiabank dropped their price target 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. Finally, Wells Fargo & Company decreased their price objective on W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating for the company in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $63.18.

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.