Allianz Asset Management GmbH Raises Stock Position in W.P. Carey Inc. (NYSE:WPC)

Allianz Asset Management GmbH increased its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 71.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,249 shares of the real estate investment trust's stock after purchasing an additional 123,053 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.13% of W.P. Carey worth $18,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of WPC. von Borstel & Associates Inc. bought a new stake in W.P. Carey during the 1st quarter valued at approximately $26,000. Bessemer Group Inc. increased its position in W.P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in W.P. Carey in the 4th quarter worth approximately $44,000. Hoey Investments Inc. purchased a new position in shares of W.P. Carey during the 4th quarter valued at approximately $48,000. Finally, Quarry LP acquired a new position in shares of W.P. Carey during the 4th quarter worth approximately $50,000. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. 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. Royal Bank Of Canada increased their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. UBS Group reduced their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, 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 note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $104.22.

W.P. Carey Price Performance

Shares of W.P. Carey stock traded up $0.17 during trading on Friday, hitting $64.61. 1,113,472 shares of the company were exchanged, compared to its average volume of 1,095,465. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. 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 firm has a 50 day moving average price of $62.62 and a 200 day moving average price of $60.72. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 6.35 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm 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%. W.P. Carey's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.14 earnings per share. On average, equities analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 185.57%.

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.