Sfmg LLC Makes New $2.43 Million Investment in W.P. Carey Inc. (NYSE:WPC)

Key Points

• Sfmg LLC acquired 38,518 shares of W.P. Carey Inc. valued at approximately $2.4 million during the first quarter, highlighting ongoing institutional interest in the real estate investment trust.
• W.P. Carey has recently increased its quarterly dividend to $0.90 per share, reflecting a 5.5% dividend yield and a payout ratio of 236.84%.
• The company reported earnings of $1.28 per share for the last quarter, surpassing analysts' expectations, with revenue growth of 10.5% year-over-year.

Sfmg LLC bought a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,518 shares of the real estate investment trust's stock, valued at approximately $2,431,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in W.P. Carey during the 1st quarter worth $26,000. TCTC Holdings LLC raised its holdings in shares of W.P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 242 shares during the last quarter. Cheviot Value Management LLC bought a new position in shares of W.P. Carey during the 1st quarter valued at about $37,000. Bessemer Group Inc. boosted its stake in W.P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 402 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey during the 4th quarter valued at $44,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Stock Down 2.0%

NYSE:WPC traded down $1.33 during midday trading on Wednesday, hitting $64.79. 1,711,455 shares of the company were exchanged, compared to its average volume of 1,354,406. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.64. The company has a market capitalization of $14.19 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 9.66 and a beta of 0.78. The company has a fifty day simple moving average of $63.18 and a 200 day simple moving average of $61.32.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The company 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%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. As a group, equities analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.90 dividend. The ex-dividend date was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a yield of 5.6%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

Wall Street Analyst Weigh In

WPC has been the topic of several recent research reports. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Evercore ISI increased their price target on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. UBS Group dropped their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. Finally, BNP Paribas set a $66.00 price objective on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.00.

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.