GAMMA Investing LLC Invests $63,000 in W. P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,013 shares of the real estate investment trust’s stock, valued at approximately $63,000.

A number of other hedge funds have also made changes to their positions in the stock. Daiwa Securities Group Inc. increased its holdings in W. P. Carey by 44.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in W. P. Carey in the third quarter worth approximately $613,000. Arizona State Retirement System increased its holdings in W. P. Carey by 0.8% in the fourth quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock worth $3,811,000 after buying an additional 439 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in W. P. Carey by 5.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after buying an additional 10,562 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in W. P. Carey in the fourth quarter worth approximately $3,403,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WPC. Royal Bank of Canada lowered their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. 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 report on Monday, March 4th. StockNews.com initiated coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Stock Down 0.4 %

Shares of WPC stock opened at $54.64 on Thursday. The stock has a market cap of $11.96 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.79. The stock has a fifty day moving average price of $55.92 and a 200 day moving average price of $58.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.62 and a quick ratio of 0.62.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. Analysts predict that W. P. Carey Inc. will post 4.56 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.33%. W. P. Carey’s dividend payout ratio (DPR) is presently 104.85%.

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.