W.P. Carey Inc. (NYSE:WPC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 purchasing an additional 1,442 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in W.P. Carey by 6.5% during the 4th 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 valued at $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Geode Capital Management LLC grew its stake in W.P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in W.P. Carey during the 1st quarter valued at approximately $889,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

W.P. Carey stock traded up $0.43 during mid-day trading on Thursday, hitting $62.23. 139,646 shares of the company's stock traded hands, compared to its average volume of 1,163,191. The firm has a 50 day moving average price of $62.31 and a 200 day moving average price of $60.12. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The company has a market cap of $13.63 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 6.93 and a beta of 0.78. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings data 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). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. During the same period in the prior year, the firm posted $1.14 EPS. The firm's quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 185.57%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays set a $61.00 price objective on W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. Evercore ISI increased their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Scotiabank increased their target price on W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Royal Bank Of Canada increased their target price on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus price target of $100.60.

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.