Asset Management One Co. Ltd. Boosts Holdings in W.P. Carey Inc. (NYSE:WPC)

Asset Management One Co. Ltd. boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 439,346 shares of the real estate investment trust's stock after purchasing an additional 6,105 shares during the period. Asset Management One Co. Ltd. owned approximately 0.20% of W.P. Carey worth $27,727,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service purchased a new position in W.P. Carey during the 4th quarter worth $25,000. Millstone Evans Group LLC purchased a new position in W.P. Carey during the 4th quarter worth $37,000. Bessemer Group Inc. grew 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 worth $40,000 after purchasing an additional 402 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in W.P. Carey during the 4th quarter worth $44,000. Finally, Plato Investment Management Ltd purchased a new position in W.P. Carey during the 4th quarter worth $48,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Stock Down 0.2%

Shares of NYSE WPC opened at $64.37 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The firm has a 50-day moving average price of $62.03 and a 200 day moving average price of $59.60. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 33.18, a price-to-earnings-growth ratio of 7.18 and a beta of 0.80.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same quarter last year, the business earned $1.14 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.90 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.59%. W.P. Carey's dividend payout ratio (DPR) is 183.51%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WPC shares. 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. Wells Fargo & Company raised their price objective on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Scotiabank raised their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. UBS Group reduced their target price on shares of 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, Royal Bank Of Canada raised their target price 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and an average target price of $100.40.

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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