BridgePort Financial Solutions LLC Purchases 180 Shares of W.P. Carey Inc. $WPC

BridgePort Financial Solutions LLC raised its position in shares of W.P. Carey Inc. (NYSE:WPC) by 0.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,681 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the quarter. BridgePort Financial Solutions LLC’s holdings in W.P. Carey were worth $1,789,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. 111 Capital bought a new stake in W.P. Carey during the 2nd quarter valued at about $224,000. QRG Capital Management Inc. increased its stake in W.P. Carey by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 137,390 shares of the real estate investment trust’s stock valued at $8,570,000 after purchasing an additional 5,356 shares in the last quarter. Hilltop National Bank bought a new stake in W.P. Carey during the 2nd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. increased its stake in W.P. Carey by 8.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,063 shares of the real estate investment trust’s stock valued at $815,000 after purchasing an additional 976 shares in the last quarter. Finally, TFG Advisers LLC grew its stake in shares of W.P. Carey by 1.2% in the second quarter. TFG Advisers LLC now owns 22,523 shares of the real estate investment trust’s stock worth $1,405,000 after acquiring an additional 261 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. BNP Paribas Exane upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price target for the company in a research note on Monday, June 9th. Barclays lifted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 20th. Evercore ISI lifted their price target on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Finally, Scotiabank lifted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.22.

W.P. Carey Stock Performance

Shares of NYSE WPC opened at $69.15 on Friday. The firm has a 50 day moving average of $66.66 and a 200 day moving average of $63.49. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 10.07 and a beta of 0.81. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.79.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, research analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 5.3%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. W.P. Carey’s dividend payout ratio (DPR) is presently 239.47%.

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.