Berkshire Asset Management LLC PA Has $19.95 Million Stock Holdings in W.P. Carey Inc. $WPC

Key Points

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Berkshire Asset Management LLC PA grew its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 328,204 shares of the real estate investment trust's stock after purchasing an additional 5,433 shares during the period. Berkshire Asset Management LLC PA owned about 0.15% of W.P. Carey worth $19,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in shares of W.P. Carey during the first quarter worth $26,000. TCTC Holdings LLC raised its holdings in shares of W.P. Carey by 100.8% during 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 period. Cheviot Value Management LLC acquired a new stake in shares of W.P. Carey during the first quarter worth $37,000. Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth $44,000. Finally, Summit Securities Group LLC raised its holdings in shares of W.P. Carey by 60.0% during the first quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 300 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Trading Down 0.8%

Shares of NYSE:WPC opened at $64.64 on Tuesday. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.64. The stock has a market cap of $14.16 billion, a PE ratio of 42.53, a P/E/G ratio of 9.51 and a beta of 0.78. The business has a 50 day moving average of $63.67 and a 200-day moving average of $61.97. 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 data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) 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 firm had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. During the same quarter in the previous year, the firm posted $1.17 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.90 per share. The ex-dividend date was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a yield of 5.6%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 236.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their price target 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. UBS Group lifted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $65.33.

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.

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