Avantax Advisory Services Inc. Acquires 6,673 Shares of W.P. Carey Inc. (NYSE:WPC)

Key Points

• Avantax Advisory Services Inc. increased its holdings in W.P. Carey Inc. by 10.5%, acquiring an additional 6,673 shares, bringing its total ownership to 70,297 shares worth approximately $4.44 million.
• The company announced a quarterly dividend increase from $0.89 to $0.90, representing an annualized dividend of $3.60 with a yield of 5.62%.
• W.P. Carey reported Q1 earnings of $1.17 EPS, slightly missing estimates and showing a 5.3% increase in revenue compared to the same quarter last year.

Avantax Advisory Services Inc. increased its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,297 shares of the real estate investment trust's stock after purchasing an additional 6,673 shares during the period. Avantax Advisory Services Inc.'s holdings in W.P. Carey were worth $4,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. bought a new position in W.P. Carey in the first quarter valued at approximately $26,000. Bessemer Group Inc. raised its holdings in shares of W.P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 402 shares during the period. Fourth Dimension Wealth LLC bought a new stake in W.P. Carey in the 4th quarter valued at $44,000. Hoey Investments Inc. acquired a new position in W.P. Carey in the 4th quarter worth $48,000. Finally, Quarry LP acquired a new position in W.P. Carey in the 4th quarter worth $50,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Trading Down 0.8%

NYSE WPC opened at $64.09 on Tuesday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $62.73 and a 200-day moving average of $60.94. The company has a market cap of $14.03 billion, a PE ratio of 33.04, a PEG ratio of 6.35 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.90 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.62%. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is 185.57%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. 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 report on Monday, June 9th. Evercore ISI boosted their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada boosted their price objective on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $104.22.

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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