Avanza Fonder AB Buys Shares of 19,199 W.P. Carey Inc. $WPC

Key Points

• Avanza Fonder AB acquired a new stake in W.P. Carey Inc., purchasing 19,199 shares valued at approximately $1.20 million in the second quarter.
• Several hedge funds have increased their positions in W.P. Carey, with institutional investors now holding 73.73% of the stock.
• W.P. Carey announced a quarterly dividend increase to $0.91 per share, marking an annualized dividend of $3.64 and a yield of 5.4%.

Avanza Fonder AB acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,199 shares of the real estate investment trust's stock, valued at approximately $1,198,000.

Other institutional investors also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new stake in W.P. Carey in the first quarter worth approximately $26,000. TCTC Holdings LLC boosted its holdings in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC bought a new stake in W.P. Carey in the 1st quarter valued at $37,000. Fourth Dimension Wealth LLC bought a new stake in W.P. Carey in the 4th quarter valued at $44,000. Finally, Summit Securities Group LLC boosted its holdings in W.P. Carey by 60.0% in the 1st quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 300 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of recent analyst reports. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group raised their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Barclays raised their price objective on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and an average price target of $67.22.

W.P. Carey Stock Up 0.0%

Shares of WPC stock traded up $0.00 during trading on Monday, reaching $67.17. The company's stock had a trading volume of 828,082 shares, compared to its average volume of 1,162,934. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 9.78 and a beta of 0.82. The business has a fifty day moving average price of $65.70 and a 200-day moving average price of $63.14. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.00. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

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 for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same period last year, the company posted $1.17 EPS. The firm's quarterly revenue 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. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. W.P. Carey's payout ratio is 236.84%.

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.