AE Wealth Management LLC Grows Position in W.P. Carey Inc. (NYSE:WPC)

AE Wealth Management LLC lifted its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 94.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,943 shares of the real estate investment trust's stock after purchasing an additional 4,353 shares during the period. AE Wealth Management LLC's holdings in W.P. Carey were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after acquiring an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of W.P. Carey by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock worth $266,224,000 after acquiring an additional 195,466 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of W.P. Carey by 40.3% in the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after acquiring an additional 758,627 shares during the last quarter. Norges Bank bought a new stake in shares of W.P. Carey in the 4th quarter worth about $139,381,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of W.P. Carey by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,248,019 shares of the real estate investment trust's stock worth $141,872,000 after acquiring an additional 10,114 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. UBS Group decreased their price objective on shares of 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 set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. BNP Paribas Exane raised 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. Finally, Barclays set a $61.00 price objective on shares of W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $104.22.

W.P. Carey Stock Performance

NYSE WPC traded down $0.98 on Wednesday, hitting $63.72. 2,670,330 shares of the company's stock traded hands, compared to its average volume of 1,103,215. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.64. The firm's 50-day moving average price is $62.86 and its two-hundred day moving average price is $60.98. The firm has a market capitalization of $13.95 billion, a PE ratio of 41.92, a P/E/G ratio of 6.36 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 3.97%. The business had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period in the previous year, the business posted $1.17 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.90 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Monday, June 30th. W.P. Carey's payout ratio is currently 185.57%.

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.