Bahl & Gaynor Inc. Sells 5,260 Shares of W.P. Carey Inc. $WPC

Key Points

• Bahl & Gaynor Inc. has reduced its holdings in W.P. Carey Inc. by 25.4%, selling 5,260 shares during the first quarter, leaving it with 15,449 shares worth approximately $975,000.
• W.P. Carey reported quarterly earnings of $1.28 EPS, exceeding analyst expectations of $1.23, and a revenue increase of 10.5% year-over-year.
• The company has increased its quarterly dividend to $0.90, up from $0.89, resulting in an annualized dividend yield of 5.4%.

Bahl & Gaynor Inc. decreased its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,449 shares of the real estate investment trust's stock after selling 5,260 shares during the period. Bahl & Gaynor Inc.'s holdings in W.P. Carey were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. von Borstel & Associates Inc. acquired a new stake in W.P. Carey in the first quarter valued at about $26,000. TCTC Holdings LLC lifted its holdings in shares of W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 242 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of W.P. Carey in the 1st quarter valued at approximately $37,000. Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey in the 4th quarter valued at approximately $44,000. Finally, Quarry LP bought a new stake in shares of W.P. Carey during the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Performance

Shares of WPC opened at $66.1190 on Monday. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $67.40. The company has a market cap of $14.48 billion, a PE ratio of 43.50, a P/E/G ratio of 9.65 and a beta of 0.78. The stock has a 50-day moving average of $63.90 and a 200-day moving average of $62.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

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, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same period in the prior year, the business earned $1.17 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities research analysts predict 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 was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's payout ratio is 236.84%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of 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. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Barclays raised their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a report on Wednesday, August 20th. UBS Group lifted their price target on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Finally, BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.67.

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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