Armstrong Fleming & Moore Inc Invests $506,000 in W.P. Carey Inc. $WPC

Key Points

• Armstrong Fleming & Moore Inc has invested $506,000 in W.P. Carey Inc., acquiring 8,115 shares in the second quarter, indicating increasing interest in this real estate investment trust.
• W.P. Carey recently increased its dividend to $0.91 per share, resulting in a dividend yield of 5.4%, following strong quarterly earnings with a 10.5% revenue growth year-over-year.
• Analysts have mixed views on W.P. Carey, with Barclays and UBS raising their price targets while maintaining ratings between "hold" and "underweight," reflecting uncertainty about the stock's future performance.

Armstrong Fleming & Moore Inc acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,115 shares of the real estate investment trust's stock, valued at approximately $506,000.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in W.P. Carey by 13.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after buying an additional 1,442 shares during the period. Envestnet Asset Management Inc. grew its position in W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock valued at $38,272,000 after acquiring an additional 26,665 shares during the last quarter. Capital Advisors Inc. OK bought a new stake in shares of W.P. Carey in the 1st quarter valued at about $345,000. Ethos Financial Group LLC bought a new position in shares of W.P. Carey in the first quarter worth approximately $372,000. Finally, GAMMA Investing LLC raised its holdings in W.P. Carey by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock valued at $162,000 after buying an additional 681 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. 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 note on Wednesday, August 20th. UBS Group lifted their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of W.P. Carey in a report on Wednesday. Scotiabank raised their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of "Hold" and a consensus price target of $67.22.

W.P. Carey Stock Down 1.4%

Shares of WPC opened at $67.25 on Thursday. The firm has a market capitalization of $14.73 billion, a P/E ratio of 44.24, a P/E/G ratio of 9.93 and a beta of 0.81. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.79. The firm has a fifty day moving average price of $66.88 and a 200-day moving average price of $63.60.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

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.

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