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

Bank of New York Mellon Corp boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 period. Bank of New York Mellon Corp owned 1.03% of W.P. Carey worth $141,872,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WPC. von Borstel & Associates Inc. purchased a new position in W.P. Carey during the 1st quarter valued at about $26,000. Millstone Evans Group LLC purchased a new position in W.P. Carey in the fourth quarter worth about $37,000. Bessemer Group Inc. raised its holdings in W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after buying an additional 402 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in W.P. Carey in the fourth quarter worth about $44,000. Finally, Hoey Investments Inc. bought a new stake in shares of W.P. Carey in the fourth quarter worth approximately $48,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research note on Monday, June 9th. 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. Evercore ISI boosted their target price on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. UBS Group cut their target price 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. Finally, Royal Bank Of Canada upped their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and an average target price of $100.60.

W.P. Carey Price Performance

Shares of WPC stock traded down $0.49 during mid-day trading on Wednesday, hitting $61.81. The company had a trading volume of 883,518 shares, compared to its average volume of 1,166,285. The company has a market capitalization of $13.54 billion, a P/E ratio of 31.86, a P/E/G ratio of 6.97 and a beta of 0.78. The stock's 50 day moving average price is $62.32 and its 200-day moving average price is $60.11. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. W.P. Carey's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. Equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.82%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 185.57%.

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.