W.P. Carey Inc. $WPC Position Boosted by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 1.8% during the 2nd quarter, Holdings Channel reports. The fund owned 100,703 shares of the real estate investment trust’s stock after purchasing an additional 1,809 shares during the period. Wealthfront Advisers LLC’s holdings in W.P. Carey were worth $6,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of WPC. GF Fund Management CO. LTD. raised its stake in shares of W.P. Carey by 4.2% during the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 168 shares in the last quarter. Griffin Asset Management Inc. raised its position in shares of W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock worth $2,011,000 after buying an additional 178 shares in the last quarter. BridgePort Financial Solutions LLC lifted its stake in shares of W.P. Carey by 0.6% in the 2nd quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock worth $1,789,000 after acquiring an additional 180 shares during the period. Cooper Financial Group lifted its stake in shares of W.P. Carey by 1.5% in the 2nd quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock worth $749,000 after acquiring an additional 181 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of W.P. Carey by 2.8% in the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Trading Down 0.1%

NYSE:WPC opened at $66.74 on Tuesday. The stock has a fifty day simple moving average of $67.47 and a 200 day simple moving average of $64.30. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 9.66 and a beta of 0.81. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.5%. W.P. Carey’s payout ratio is currently 239.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WPC shares. Royal Bank Of Canada boosted their target price on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Evercore ISI boosted their price objective on 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. UBS Group upped their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Scotiabank lifted their target price on 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, Barclays boosted their price target on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average 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.