Amalgamated Bank Increases Stake in W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 512.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,702 shares of the real estate investment trust’s stock after purchasing an additional 104,340 shares during the quarter. Amalgamated Bank owned approximately 0.06% of W. P. Carey worth $8,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WPC. SRS Capital Advisors Inc. boosted its position in W. P. Carey by 1.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock valued at $1,097,000 after buying an additional 191 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $921,000. Fisher Asset Management LLC grew its stake in shares of W. P. Carey by 9.1% in the fourth quarter. Fisher Asset Management LLC now owns 7,204 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 602 shares during the last quarter. Fortitude Advisory Group L.L.C. purchased a new position in W. P. Carey during the 4th quarter valued at about $208,000. Finally, New York Life Investment Management LLC bought a new position in W. P. Carey during the 4th quarter valued at approximately $234,000. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WPC shares. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada cut their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Scotiabank lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, March 4th. Finally, Barclays began coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.18.

W. P. Carey Stock Up 1.4 %

WPC stock opened at $56.68 on Friday. The business has a 50 day moving average of $55.87 and a 200 day moving average of $58.87. The firm has a market cap of $12.40 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.60. The company has a quick ratio of 0.62, a current ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same period last year, the company earned $1.29 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, research analysts forecast that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.10%. W. P. Carey’s dividend payout ratio is presently 131.56%.

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.