Asset Management One Co. Ltd. Raises Stock Position in W.P. Carey Inc. $WPC

Asset Management One Co. Ltd. grew its holdings in W.P. Carey Inc. (NYSE:WPC) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,714 shares of the real estate investment trust’s stock after acquiring an additional 24,368 shares during the period. Asset Management One Co. Ltd.’s holdings in W.P. Carey were worth $28,926,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WPC. JPMorgan Chase & Co. grew its holdings in W.P. Carey by 274.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock valued at $322,630,000 after purchasing an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. grew its holdings in W.P. Carey by 1,016.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock valued at $110,564,000 after purchasing an additional 1,595,045 shares in the last quarter. Nuveen LLC acquired a new stake in W.P. Carey during the 1st quarter valued at $30,194,000. Private Management Group Inc. acquired a new stake in W.P. Carey during the 1st quarter valued at $29,923,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in W.P. Carey during the 2nd quarter valued at $24,030,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Trading Down 1.7%

NYSE WPC opened at $66.76 on Friday. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79. The company has a 50-day simple moving average of $67.43 and a 200-day simple moving average of $64.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $14.62 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 9.82 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same period in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.5%. W.P. Carey’s dividend payout ratio (DPR) is presently 239.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Friday. Scotiabank raised their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.44.

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.