Applied Capital LLC FL boosted its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,535 shares of the real estate investment trust's stock after purchasing an additional 4,307 shares during the period. Applied Capital LLC FL's holdings in W.P. Carey were worth $602,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. lifted its stake in W.P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after purchasing an additional 8,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 last quarter. Geode Capital Management LLC lifted its stake in W.P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares during the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in W.P. Carey in the first quarter valued at approximately $345,000. Hedge funds and other institutional investors own 73.73% of the company's stock.
W.P. Carey Trading Up 0.5%
Shares of WPC stock opened at $62.81 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a market capitalization of $13.75 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 6.95 and a beta of 0.78. The business's fifty day moving average is $62.34 and its 200 day moving average is $60.23.
W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data 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). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. During the same quarter last year, the business posted $1.14 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W.P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) is 185.57%.
Analyst Upgrades and Downgrades
WPC has been the topic of several recent research reports. UBS Group dropped their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a 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 report on Wednesday, July 2nd. Finally, Royal Bank Of Canada raised their price target on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W.P. Carey currently has an average rating of "Hold" and an average price target of $100.60.
View Our Latest Report 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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