Waterfront Capital Partners LLC Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

Waterfront Capital Partners LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 47.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 246,111 shares of the real estate investment trust’s stock after selling 217,868 shares during the quarter. W. P. Carey comprises 2.1% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 18th largest holding. Waterfront Capital Partners LLC’s holdings in W. P. Carey were worth $15,333,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WPC. HB Wealth Management LLC grew its holdings in W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 8,843 shares in the last quarter. SG Americas Securities LLC grew its holdings in W. P. Carey by 41.9% during 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 buying an additional 46,181 shares in the last quarter. Equity Investment Corp grew its holdings in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 valued at $1,319,000 after buying an additional 9,353 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in W. P. Carey by 9.8% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $57.51 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day simple moving average is $58.58 and its two-hundred day simple moving average is $58.21. The stock has a market capitalization of $12.59 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.95. W. P. Carey Inc. has a one year low of $53.09 and a one year high of $67.40.

W. P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same period last year, the firm posted $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 6.09%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. W. P. Carey’s dividend payout ratio is presently 137.80%.

Analyst Ratings Changes

WPC has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada dropped their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. 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 report on Tuesday, October 1st. Finally, Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.88.

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.