Bank of New York Mellon Corp Has $139.56 Million Stake in W.P. Carey Inc. $WPC

Bank of New York Mellon Corp lowered its position in shares of W.P. Carey Inc. (NYSE:WPC) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,237,186 shares of the real estate investment trust’s stock after selling 10,833 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of W.P. Carey worth $139,556,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WPC. TCTC Holdings LLC lifted its stake in shares of W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC bought a new stake in W.P. Carey in the first quarter worth approximately $37,000. V Square Quantitative Management LLC bought a new stake in W.P. Carey in the second quarter worth approximately $40,000. REAP Financial Group LLC lifted its stake in W.P. Carey by 56.4% in the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 238 shares during the period. Finally, Hilltop National Bank acquired a new position in W.P. Carey in the second quarter valued at approximately $43,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

Shares of WPC stock opened at $66.26 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $67.44 and a two-hundred day simple moving average of $64.61. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79. The firm has a market capitalization of $14.52 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 9.57 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Analysts forecast 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.5%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is presently 220.61%.

Wall Street Analyst Weigh In

WPC has been the subject of several research analyst reports. Evercore ISI lifted their price objective on shares of W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Barclays increased their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 20th. Scotiabank lifted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.89.

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.