Waterfront Capital Partners LLC Has $15.33 Million Position in W. P. Carey Inc. (NYSE:WPC)

Waterfront Capital Partners LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 47.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 246,111 shares of the real estate investment trust’s stock after selling 217,868 shares during the quarter. W. P. Carey accounts for approximately 2.1% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 18th biggest position. Waterfront Capital Partners LLC owned about 0.11% of W. P. Carey worth $15,333,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in shares of W. P. Carey by 22.2% in the second 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 acquiring an additional 588,636 shares during the period. Dimensional Fund Advisors LP lifted its position in W. P. Carey by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust’s stock worth $173,570,000 after purchasing an additional 204,064 shares during the period. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 103,147 shares during the period. Bank of New York Mellon Corp lifted its position in W. P. Carey by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,524,490 shares of the real estate investment trust’s stock worth $138,973,000 after purchasing an additional 7,549 shares during the period. Finally, PGGM Investments lifted its position in W. P. Carey by 18.5% during the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

W. P. Carey stock opened at $57.51 on Friday. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a 52-week low of $53.09 and a 52-week high of $67.40. The stock’s 50 day moving average price is $58.58 and its two-hundred day moving average price is $58.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its quarterly 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 business had revenue of $394.78 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 earnings per share. On average, equities analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.09%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WPC shares. 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 report on Thursday, August 1st. Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Barclays upped 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.