W. P. Carey Inc. (NYSE:WPC) Stake Reduced by Foundry Partners LLC

Foundry Partners LLC lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,834 shares of the real estate investment trust’s stock after selling 19,635 shares during the quarter. Foundry Partners LLC owned approximately 0.07% of W. P. Carey worth $9,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WPC. Fairfield Bush & CO. bought a new stake in shares of W. P. Carey in the 1st quarter valued at approximately $26,000. Acadian Asset Management LLC acquired a new stake in W. P. Carey in the 1st quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new stake in W. P. Carey in the 4th quarter worth approximately $32,000. Quarry LP lifted its holdings in shares of W. P. Carey by 438.5% during the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 342 shares during the last quarter. Finally, Central Bank & Trust Co. acquired a new position in shares of W. P. Carey during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 2.9 %

Shares of WPC traded up $1.56 during trading hours on Friday, hitting $56.21. 1,277,323 shares of the stock traded hands, compared to its average volume of 1,043,284. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $74.66. The business has a fifty day moving average of $56.06 and a 200-day moving average of $58.77. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $12.30 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.16%. W. P. Carey’s dividend payout ratio is presently 104.85%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price 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. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. StockNews.com initiated coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Finally, Scotiabank lowered 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and a consensus price target of $63.36.

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.