Brookwood Investment Group LLC bought a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,844 shares of the real estate investment trust's stock, valued at approximately $558,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sei Investments Co. boosted its stake in shares of W.P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after acquiring an additional 8,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after purchasing an additional 1,442 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of W.P. Carey by 4.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after acquiring an additional 26,665 shares during the period. Capital Advisors Inc. OK purchased a new stake in shares of W.P. Carey in the 1st quarter valued at approximately $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in W.P. Carey by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock valued at $119,235,000 after purchasing an additional 134,523 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.
W.P. Carey Price Performance
Shares of WPC traded up $0.17 during trading hours on Friday, reaching $64.61. 1,113,472 shares of the company traded hands, compared to its average volume of 1,095,465. The stock has a fifty day simple moving average of $62.62 and a 200 day simple moving average of $60.72. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $14.15 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 6.35 and a beta of 0.78. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.
W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. As a group, research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W.P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.57%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is 185.57%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on WPC shares. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Evercore ISI raised their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada increased their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. UBS Group dropped their price objective on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, BNP Paribas Exane upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.22.
Read Our Latest Analysis on WPC
About W.P. Carey
(
Free Report)
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.
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