Huntington National Bank Has $264,000 Position in W. P. Carey Inc. (NYSE:WPC)

Huntington National Bank trimmed its holdings in W. P. Carey Inc. (NYSE:WPCFree Report) by 3.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,876 shares of the real estate investment trust’s stock after selling 198 shares during the quarter. Huntington National Bank’s holdings in W. P. Carey were worth $264,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in W. P. Carey by 104,493.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock worth $360,716,000 after purchasing an additional 4,611,275 shares during the period. Norges Bank acquired a new stake in W. P. Carey in the fourth quarter worth about $174,406,000. JPMorgan Chase & Co. increased its position in W. P. Carey by 46.1% in the first quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after purchasing an additional 2,068,458 shares during the period. Cohen & Steers Inc. acquired a new stake in W. P. Carey in the second quarter worth about $99,983,000. Finally, Daiwa Securities Group Inc. increased its position in W. P. Carey by 130.0% in the third quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after purchasing an additional 1,422,490 shares during the period. 62.62% of the stock is owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC opened at $57.38 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50 day simple moving average of $64.23 and a 200 day simple moving average of $61.32. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $85.36. The firm has a market capitalization of $12.55 billion, a PE ratio of 17.39, a P/E/G ratio of 7.26 and a beta of 0.89.

W. P. Carey (NYSE:WPCGet Free Report) 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 the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 8.43% and a net margin of 44.67%. The business had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. During the same period in the previous year, the firm earned $1.29 EPS. W. P. Carey’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that W. P. Carey Inc. will post 4.57 EPS for the current fiscal year.

W. P. Carey Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.86 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.44 annualized dividend and a dividend yield of 6.00%. W. P. Carey’s dividend payout ratio is presently 104.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James lifted their price objective on W. P. Carey from $63.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. StockNews.com initiated coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating for the company. JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, November 13th. Finally, Royal Bank of Canada boosted their target price on W. P. Carey from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $66.60.

Check Out Our Latest Report on WPC

W. P. Carey Company Profile

(Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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