DF Dent & Co. Inc. Sells 275 Shares of W. P. Carey Inc. (NYSE:WPC)

DF Dent & Co. Inc. trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 4.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,281 shares of the real estate investment trust’s stock after selling 275 shares during the quarter. DF Dent & Co. Inc.’s holdings in W. P. Carey were worth $329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. Allspring Global Investments Holdings LLC grew 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 second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares during the period. EdgeRock Capital LLC purchased a new position in W. P. Carey in the second quarter worth approximately $39,000. Maia Wealth LLC purchased a new position in W. P. Carey in the third quarter worth approximately $40,000. Finally, Ridgewood Investments LLC purchased a new position in shares of W. P. Carey during the second quarter worth $41,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WPC has been the topic of several analyst reports. Barclays increased their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Evercore ISI raised their price target on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company reissued an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Stock Performance

W. P. Carey stock opened at $55.90 on Friday. The stock has a 50 day moving average of $57.65 and a 200-day moving average of $58.04. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The stock has a market cap of $12.23 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

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

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.26%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

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.