Allstate Corp Has $769,000 Stock Position in W.P. Carey Inc. $WPC

Key Points

• Allstate Corp increased its stake in W.P. Carey Inc. by 81.1%, owning 12,178 shares valued at $769,000 as of the latest SEC filing.
• W.P. Carey declared a quarterly dividend of $0.90 per share, marking an increase from its previous dividend of $0.89, resulting in a 5.4% dividend yield.
• Analysts have a consensus rating of "Hold" for W.P. Carey, with an average price target of $65.67, reflecting varied opinions among brokerages on the stock's future performance.

Allstate Corp lifted its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 81.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,178 shares of the real estate investment trust's stock after buying an additional 5,453 shares during the quarter. Allstate Corp's holdings in W.P. Carey were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPC. NewEdge Advisors LLC lifted its holdings in shares of W.P. Carey by 6.3% during the fourth quarter. NewEdge Advisors LLC now owns 8,196 shares of the real estate investment trust's stock worth $447,000 after buying an additional 485 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of W.P. Carey by 10.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,658 shares of the real estate investment trust's stock worth $635,000 after purchasing an additional 1,091 shares during the period. Stifel Financial Corp increased its position in shares of W.P. Carey by 10.6% in the fourth quarter. Stifel Financial Corp now owns 35,139 shares of the real estate investment trust's stock worth $1,914,000 after purchasing an additional 3,355 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of W.P. Carey by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,058,351 shares of the real estate investment trust's stock worth $57,660,000 after purchasing an additional 21,954 shares during the period. Finally, MGO One Seven LLC increased its position in shares of W.P. Carey by 17.0% in the fourth quarter. MGO One Seven LLC now owns 5,156 shares of the real estate investment trust's stock worth $281,000 after purchasing an additional 751 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WPC. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research report on Monday, June 9th. Evercore ISI raised their price target on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Barclays raised their price target on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Finally, UBS Group raised their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.67.

W.P. Carey Stock Performance

W.P. Carey stock opened at $66.1190 on Monday. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $67.40. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The business's 50-day moving average price is $63.90 and its two-hundred day moving average price is $62.26. The stock has a market cap of $14.48 billion, a PE ratio of 43.50, a P/E/G ratio of 9.65 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last released 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. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.4%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

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.

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