Signet Financial Management LLC Purchases Shares of 35,644 W. P. Carey Inc. (NYSE:WPC)

Signet Financial Management LLC bought a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,644 shares of the real estate investment trust’s stock, valued at approximately $1,942,000.

A number of other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after acquiring an additional 127,477 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of W. P. Carey by 22.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock valued at $178,401,000 after purchasing an additional 588,636 shares during the period. Dimensional Fund Advisors LP grew its stake in W. P. Carey by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after buying an additional 204,064 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded down $0.31 during trading on Monday, reaching $53.57. The company’s stock had a trading volume of 1,487,443 shares, compared to its average volume of 1,238,153. The business has a 50 day moving average price of $55.62 and a 200-day moving average price of $57.86. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $67.17. The company has a market capitalization of $11.72 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued 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). The company had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, sell-side analysts anticipate that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.57%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 138.58%.

Analyst Ratings Changes

WPC has been the topic of a number of research reports. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Barclays reissued an “underweight” rating and set a $59.00 price objective (up from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday. Evercore ISI boosted their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average target price of $62.57.

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.