KBC Group NV Has $9.33 Million Position in W. P. Carey Inc. (NYSE:WPC)

KBC Group NV grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 746.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,820 shares of the real estate investment trust’s stock after purchasing an additional 132,124 shares during the period. KBC Group NV owned approximately 0.07% of W. P. Carey worth $9,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. HB Wealth Management LLC lifted its stake in W. P. Carey by 247.3% in the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock worth $684,000 after acquiring an additional 8,843 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of W. P. Carey by 41.9% in the third quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after purchasing an additional 46,181 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock worth $1,319,000 after purchasing an additional 9,353 shares during the period. CANADA LIFE ASSURANCE Co grew its position in 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 valued at $25,749,000 after purchasing an additional 9,324 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in W. P. Carey by 9.8% in 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 during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.7 %

Shares of WPC stock opened at $55.77 on Friday. The stock’s 50 day simple moving average is $59.52 and its 200 day simple moving average is $58.21. 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 company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 1.03 and a beta of 0.95.

W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). The firm 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 for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. 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 137.80%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WPC. Barclays boosted their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI lifted their price target 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. Finally, Royal Bank of Canada dropped their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.88.

About W. P. Carey

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.