DNB Asset Management AS Grows Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

DNB Asset Management AS increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,400 shares of the real estate investment trust’s stock after purchasing an additional 2,138 shares during the period. DNB Asset Management AS’s holdings in W. P. Carey were worth $2,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its holdings in W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Norges Bank bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $157,107,000. Russell Investments Group Ltd. boosted its position in shares of W. P. Carey by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock worth $22,810,000 after purchasing an additional 175,347 shares during the period. Principal Securities Inc. bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $951,000. Finally, M&T Bank Corp boosted its position in shares of W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 825 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WPC. Royal Bank of Canada dropped their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Scotiabank upped their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.91.

W. P. Carey Stock Up 2.1 %

W. P. Carey stock traded up $1.18 during midday trading on Tuesday, hitting $57.14. 1,363,941 shares of the company’s stock were exchanged, compared to its average volume of 1,311,519. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.93. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $67.40. The firm has a 50-day moving average of $56.76 and a two-hundred day moving average of $57.27. The company has a market cap of $12.50 billion, a PE ratio of 21.79, a P/E/G ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The firm had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, analysts expect that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.87 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date was Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

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.