Tokio Marine Asset Management Co. Ltd. Acquires 352 Shares of W. P. Carey Inc. (NYSE:WPC)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,910 shares of the real estate investment trust’s stock after purchasing an additional 352 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in W. P. Carey were worth $368,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WPC. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP grew its position in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of W. P. Carey during the 2nd quarter worth about $34,000. Finally, Maia Wealth LLC acquired a new position in shares of W. P. Carey during the third quarter valued at about $40,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

NYSE:WPC opened at $55.77 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.21 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The company’s 50-day moving average price is $59.52 and its two-hundred day moving average price is $58.21.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The firm’s revenue was down 11.9% compared to the same quarter last year. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research reports. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays lifted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Evercore ISI boosted their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada decreased their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.88.

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.