Amalgamated Bank Buys 104,340 Shares of W. P. Carey Inc. (NYSE:WPC)

Amalgamated Bank increased its stake in 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 Securities & Exchange Commission. The fund owned 124,702 shares of the real estate investment trust’s stock after buying an additional 104,340 shares during the quarter. Amalgamated Bank’s holdings in W. P. Carey were worth $8,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Central Bank & Trust Co. bought a new stake in shares of W. P. Carey in the 4th quarter worth about $28,000. FNY Investment Advisers LLC bought a new stake in W. P. Carey in the fourth quarter worth about $32,000. Covestor Ltd boosted its position in shares of W. P. Carey by 316.5% during the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 595 shares during the period. First Horizon Advisors Inc. purchased a new position in shares of W. P. Carey during the third quarter valued at approximately $45,000. Finally, Provence Wealth Management Group bought a new position in shares of W. P. Carey during the third quarter valued at approximately $46,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of a number of research analyst reports. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company lowered their target price 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. Royal Bank of Canada reduced their price target 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. Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, Scotiabank dropped their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average price target of $63.18.

W. P. Carey Trading Up 1.4 %

NYSE WPC opened at $56.68 on Friday. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.62 and a current ratio of 0.90. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company’s 50-day simple moving average is $55.87 and its two-hundred day simple moving average is $58.87.

W. P. Carey (NYSE:WPC) last announced its earnings results 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. The business had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a return on equity of 6.41% and a net margin of 33.65%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Equities analysts forecast that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 131.56%.

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.