Concord Wealth Partners Buys 266 Shares of W.P. Carey Inc. $WPC

Concord Wealth Partners grew its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 14.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,055 shares of the real estate investment trust’s stock after acquiring an additional 266 shares during the quarter. Concord Wealth Partners’ holdings in W.P. Carey were worth $128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after buying an additional 3,747,898 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in W.P. Carey by 4.9% during 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 buying an additional 195,466 shares during the last quarter. Northern Trust Corp boosted its holdings in W.P. Carey by 2.1% during the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust’s stock worth $170,198,000 after buying an additional 55,615 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of W.P. Carey by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust’s stock valued at $168,018,000 after purchasing an additional 20,495 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of W.P. Carey by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust’s stock valued at $142,440,000 after purchasing an additional 68,414 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on WPC. Scotiabank lifted their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Barclays lifted their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, August 20th. Evercore ISI lifted their price objective on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Royal Bank Of Canada lifted their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.22.

W.P. Carey Stock Up 1.0%

Shares of W.P. Carey stock opened at $67.50 on Tuesday. The business’s 50 day simple moving average is $67.01 and its 200 day simple moving average is $63.73. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79. The firm has a market cap of $14.78 billion, a PE ratio of 44.41, a P/E/G ratio of 9.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19.

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 analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same quarter last year, the firm earned $1.17 EPS. W.P. Carey’s revenue for the quarter was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The company 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 $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s payout ratio is 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.