Ameriprise Financial Inc. Reduces Stake in W.P. Carey Inc. $WPC

Key Points

• Ameriprise Financial Inc. reduced its stake in W.P. Carey Inc. by 0.7%, selling 5,442 shares during the first quarter, leaving it with 724,836 shares valued at approximately $45.8 million.
• W.P. Carey recently reported a quarterly earnings per share of $1.28, exceeding expectations and demonstrating a 10.5% increase in revenue compared to the previous year, leading to a favorable FY 2025 guidance of 4.870-4.950 EPS.
• The company's dividend was increased to $0.90 per share, resulting in a 5.4% yield, with a current payout ratio of 236.84%.

Ameriprise Financial Inc. decreased its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 724,836 shares of the real estate investment trust's stock after selling 5,442 shares during the period. Ameriprise Financial Inc. owned 0.33% of W.P. Carey worth $45,759,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. IAG Wealth Partners LLC grew its stake in W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after purchasing an additional 163 shares during the period. GF Fund Management CO. LTD. lifted its holdings in W.P. Carey by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock worth $262,000 after purchasing an additional 168 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in W.P. Carey by 2.8% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock worth $434,000 after purchasing an additional 185 shares in the last quarter. SouthState Corp lifted its holdings in W.P. Carey by 15.7% during the 1st quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 195 shares in the last quarter. Finally, Applied Finance Capital Management LLC lifted its holdings in W.P. Carey by 4.2% during the 1st quarter. Applied Finance Capital Management LLC now owns 5,490 shares of the real estate investment trust's stock worth $346,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Up 0.9%

WPC traded up $0.60 on Friday, hitting $67.08. 850,711 shares of the company were exchanged, compared to its average volume of 1,204,948. The firm has a fifty day simple moving average of $64.22 and a two-hundred day simple moving average of $62.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $67.40. The stock has a market capitalization of $14.69 billion, a PE ratio of 44.13, a price-to-earnings-growth ratio of 9.80 and a beta of 0.82.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same period last year, the company earned $1.17 EPS. W.P. Carey's revenue for the quarter was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm 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. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.4%. W.P. Carey's dividend payout ratio (DPR) is 236.84%.

Analyst Ratings Changes

A number of analysts recently issued reports on WPC shares. Evercore ISI increased their price objective on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. UBS Group increased their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Royal Bank Of Canada increased their price objective on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Barclays upped their target price on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Finally, BNP Paribas set a $66.00 price objective on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and an average price target of $65.89.

About W.P. Carey

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.