W.P. Carey Inc. $WPC Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its position in shares of W.P. Carey Inc. (NYSE:WPC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,037 shares of the real estate investment trust’s stock after selling 2,107 shares during the period. Meritage Portfolio Management’s holdings in W.P. Carey were worth $4,681,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WPC. Farther Finance Advisors LLC boosted its holdings in shares of W.P. Carey by 109.8% in the 1st quarter. Farther Finance Advisors LLC now owns 5,464 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 2,859 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of W.P. Carey by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 681 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in shares of W.P. Carey by 7.7% in the 1st quarter. Griffin Asset Management Inc. now owns 32,058 shares of the real estate investment trust’s stock valued at $2,023,000 after buying an additional 2,289 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of W.P. Carey by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,509 shares of the real estate investment trust’s stock valued at $13,096,000 after buying an additional 6,000 shares in the last quarter. Finally, IAG Wealth Partners LLC boosted its holdings in shares of W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPC. Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday. Scotiabank upped their target price on shares of 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 upped their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, August 20th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Evercore ISI increased 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 note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.22.

W.P. Carey Stock Down 0.4%

Shares of NYSE:WPC opened at $66.81 on Friday. The stock has a market cap of $14.63 billion, a P/E ratio of 43.95, a P/E/G ratio of 9.67 and a beta of 0.81. The firm has a fifty day moving average price of $66.98 and a 200 day moving average price of $63.68. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s 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.