Pathway Financial Advisers LLC Buys 3,044 Shares of W.P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC boosted its position in shares of W.P. Carey Inc. (NYSE:WPC) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,904 shares of the real estate investment trust’s stock after buying an additional 3,044 shares during the quarter. Pathway Financial Advisers LLC’s holdings in W.P. Carey were worth $2,329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in W.P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock worth $256,201,000 after purchasing an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of W.P. Carey by 4.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust’s stock worth $266,224,000 after purchasing an additional 195,466 shares during the last quarter. Northern Trust Corp grew its holdings in shares of W.P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after purchasing an additional 758,627 shares during the last quarter. Bank of New York Mellon Corp increased its stake in W.P. Carey by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,248,019 shares of the real estate investment trust’s stock worth $141,872,000 after buying an additional 10,114 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in W.P. Carey by 6.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust’s stock valued at $119,235,000 after buying an additional 134,523 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an “underweight” rating in a research note on Wednesday, May 21st. BNP Paribas Exane raised W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price for the company in a research report on Monday, June 9th. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a “neutral” rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.00.

W.P. Carey Trading Up 1.1%

Shares of W.P. Carey stock opened at $64.89 on Friday. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.64. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.23. The stock has a market cap of $14.21 billion, a P/E ratio of 42.69, a P/E/G ratio of 6.30 and a beta of 0.78. The stock’s 50 day simple moving average is $63.01 and its 200-day simple moving average is $61.13.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 earnings per share. Analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.90 dividend. The ex-dividend date was Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.5%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. W.P. Carey’s dividend payout ratio (DPR) is currently 236.84%.

W.P. Carey Company 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.