Tokio Marine Asset Management Co. Ltd. Buys 352 Shares of W. P. Carey Inc. (NYSE:WPC)

Tokio Marine Asset Management Co. Ltd. raised its position in W. P. Carey Inc. (NYSE:WPC) by 6.3% during the third quarter, Holdings Channel reports. The institutional investor owned 5,910 shares of the real estate investment trust’s stock after buying an additional 352 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in W. P. Carey were worth $368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPC. HB Wealth Management LLC boosted its holdings in W. P. Carey by 247.3% in the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after acquiring an additional 8,843 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of W. P. Carey by 41.9% in the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 46,181 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after buying an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of W. P. Carey by 2.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after buying an additional 9,324 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock valued at $5,954,000 after buying an additional 9,619 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays upped their target price on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. 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 research note on Tuesday, October 1st. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. UBS Group cut their price target 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. Finally, Evercore ISI boosted their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Performance

Shares of WPC opened at $55.77 on Friday. The firm has a market cap of $12.21 billion, a P/E ratio of 21.96, a PEG ratio of 1.03 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $59.52 and its two-hundred day moving average price is $58.21.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 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 company’s revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

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.