Keudell Morrison Wealth Management Trims Stake in W.P. Carey Inc. $WPC

Keudell Morrison Wealth Management cut its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,128 shares of the real estate investment trust’s stock after selling 332 shares during the quarter. Keudell Morrison Wealth Management’s holdings in W.P. Carey were worth $258,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. IAG Wealth Partners LLC raised its stake in shares of W.P. Carey by 7.0% in the first quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 163 shares during the period. GF Fund Management CO. LTD. increased its holdings in W.P. Carey by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 168 shares in the last quarter. BridgePort Financial Solutions LLC increased its holdings in 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 in the last quarter. Cooper Financial Group raised its stake in W.P. Carey by 1.5% during 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 lifted its holdings in W.P. Carey by 2.8% during 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 purchasing an additional 185 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WPC shares. Evercore ISI upped 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 report on Monday, September 15th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a “neutral” rating in a report on Monday, June 9th. Barclays increased their price target on W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada boosted their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, UBS Group upped their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Three 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.22.

W.P. Carey Stock Up 1.0%

Shares of WPC stock opened at $69.15 on Monday. The company’s fifty day simple moving average is $66.66 and its two-hundred day simple moving average is $63.50. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. The stock has a market cap of $15.14 billion, a P/E ratio of 45.49, a PEG ratio of 10.07 and a beta of 0.81. 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 issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts predict that W.P. Carey Inc. will post 4.87 EPS 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. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is currently 239.47%.

W.P. Carey Company Profile

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.