Bank of New York Mellon Corp Purchases 10,114 Shares of W.P. Carey Inc. (NYSE:WPC)

Bank of New York Mellon Corp increased its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,248,019 shares of the real estate investment trust's stock after acquiring an additional 10,114 shares during the quarter. Bank of New York Mellon Corp owned about 1.03% of W.P. Carey worth $141,872,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WPC. Sei Investments Co. grew its holdings in shares of W.P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after purchasing an additional 8,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of W.P. Carey by 13.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after acquiring an additional 1,442 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W.P. Carey by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after buying an additional 134,523 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of W.P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after acquiring an additional 135,090 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of W.P. Carey in the 1st quarter worth $889,000. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Up 0.5%

W.P. Carey stock traded up $0.33 on Friday, hitting $62.81. 1,140,720 shares of the stock traded hands, compared to its average volume of 1,168,044. The business's fifty day simple moving average is $62.32 and its 200 day simple moving average is $60.17. 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 firm has a market cap of $13.75 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 6.88 and a beta of 0.78. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The company had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. During the same period in the prior year, the firm earned $1.14 EPS. W.P. Carey's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.73%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 185.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research note on Monday, June 9th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. 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 report on Thursday, May 1st. Finally, Barclays set a $61.00 target price on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $100.60.

W.P. Carey 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.