Carnegie Investment Counsel Has $11.90 Million Stock Holdings in W.P. Carey Inc. $WPC

Key Points

• Carnegie Investment Counsel increased its holdings in W.P. Carey Inc. by 17.1% in the 2nd quarter, now owning approximately 0.09% of the company, valued at $11.90 million.
• W.P. Carey recently reported earnings per share of $1.28 for the quarter, surpassing analyst expectations, with a quarterly revenue growth of 10.5% year-over-year.
• The company has raised its quarterly dividend to $0.91 per share, reflecting a dividend yield of 5.5% and an annualized payout of $3.64.

Carnegie Investment Counsel grew its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 17.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,795 shares of the real estate investment trust's stock after buying an additional 27,882 shares during the period. Carnegie Investment Counsel owned approximately 0.09% of W.P. Carey worth $11,902,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of W.P. Carey by 36.1% in the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock worth $162,000 after acquiring an additional 681 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of W.P. Carey by 20.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 15,090 shares of the real estate investment trust's stock valued at $952,000 after purchasing an additional 2,540 shares during the period. Spire Wealth Management increased its stake in W.P. Carey by 48.5% during the 1st quarter. Spire Wealth Management now owns 3,052 shares of the real estate investment trust's stock worth $193,000 after purchasing an additional 997 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in W.P. Carey by 101.7% during the 1st quarter. Golden State Wealth Management LLC now owns 3,272 shares of the real estate investment trust's stock worth $207,000 after buying an additional 1,650 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in W.P. Carey by 74.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 872,496 shares of the real estate investment trust's stock worth $55,063,000 after buying an additional 372,433 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Trading Down 1.7%

Shares of NYSE:WPC opened at $66.76 on Friday. The company's 50-day moving average price is $67.43 and its two-hundred day moving average price is $64.15. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $14.62 billion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 9.82 and a beta of 0.81.

W.P. Carey (NYSE:WPC - Get Free Report) last released its earnings results 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 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 quarter in the previous year, the business earned $1.17 earnings per share. W.P. Carey's quarterly revenue 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 analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of W.P. Carey from $64.00 to $66.00 and gave the company an "underweight" rating in a report on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of W.P. Carey in a research note on Friday. Evercore ISI lifted their price target on W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Scotiabank upped their price objective on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Friday, September 5th. Finally, UBS Group increased their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Three 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's stock. Based on data from MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and an average target price of $67.44.

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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