Quest Partners LLC Has $6.78 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Quest Partners LLC lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 747.6% during the third quarter, Holdings Channel.com reports. The firm owned 108,748 shares of the real estate investment trust’s stock after purchasing an additional 95,918 shares during the period. W. P. Carey accounts for 0.6% of Quest Partners LLC’s holdings, making the stock its 2nd biggest position. Quest Partners LLC’s holdings in W. P. Carey were worth $6,775,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of W. P. Carey by 1,510.0% in the second 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 in the last quarter. Quarry LP boosted its position in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new stake in W. P. Carey during the second quarter worth $34,000. Finally, EdgeRock Capital LLC purchased a new stake in W. P. Carey in the 2nd quarter valued at $39,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WPC shares. Barclays lifted their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. 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 report on Thursday. Scotiabank reduced their price objective on shares of 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. Evercore ISI lifted 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 research report on Monday, September 16th. Finally, Wells Fargo & Company restated 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.88.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $55.77 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a fifty day simple moving average of $59.52 and a two-hundred day simple moving average of $58.23. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.95.

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 for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the previous year, the company posted $1.32 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. Analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 annualized dividend and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 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.