Resona Asset Management Co. Ltd. Has $7.59 Million Holdings in W.P. Carey Inc. $WPC

Resona Asset Management Co. Ltd. trimmed its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 120,905 shares of the real estate investment trust’s stock after selling 8,451 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of W.P. Carey worth $7,585,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WPC. Envestnet Asset Management Inc. raised its position in shares of W.P. Carey by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust’s stock valued at $38,272,000 after buying an additional 26,665 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of W.P. Carey by 7.5% during the 1st quarter. Stratos Wealth Partners LTD. now owns 11,503 shares of the real estate investment trust’s stock valued at $726,000 after acquiring an additional 802 shares during the period. Greenleaf Trust acquired a new stake in shares of W.P. Carey during the 1st quarter worth $253,000. Cerity Partners LLC raised its stake in W.P. Carey by 18.9% in the first quarter. Cerity Partners LLC now owns 31,723 shares of the real estate investment trust’s stock valued at $2,002,000 after purchasing an additional 5,049 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in W.P. Carey by 1.2% during the first quarter. State of Michigan Retirement System now owns 52,400 shares of the real estate investment trust’s stock worth $3,307,000 after buying an additional 600 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Evercore ISI raised their target price on W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Barclays upped their price target on W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company upgraded 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 research report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.89.

W.P. Carey Stock Up 1.7%

WPC stock opened at $67.35 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $14.76 billion, a PE ratio of 40.82, a P/E/G ratio of 9.57 and a beta of 0.80. The stock’s 50 day moving average is $67.45 and its 200-day moving average is $64.66. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.79.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. W.P. Carey’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Sell-side analysts expect 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. Investors of record on Tuesday, September 30th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s dividend payout ratio (DPR) is currently 220.61%.

W.P. Carey 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.