Cerity Partners LLC Has $2 Million Stake in W.P. Carey Inc. (NYSE:WPC)

Cerity Partners LLC increased its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 31,723 shares of the real estate investment trust's stock after acquiring an additional 5,049 shares during the period. Cerity Partners LLC's holdings in W.P. Carey were worth $2,002,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. von Borstel & Associates Inc. acquired a new position in W.P. Carey during the 1st quarter worth $26,000. Millstone Evans Group LLC acquired a new position in W.P. Carey during the 4th quarter worth $37,000. Bessemer Group Inc. boosted its position in W.P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 402 shares during the period. Fourth Dimension Wealth LLC acquired a new position in W.P. Carey during the 4th quarter worth $44,000. Finally, Hoey Investments Inc. acquired a new position in W.P. Carey during the 4th quarter worth $48,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on WPC shares. Evercore ISI upped their price target on 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. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research report on Monday, June 9th. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. UBS Group dropped their target price on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays set a $61.00 target price on W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $104.22.

W.P. Carey Trading Up 3.1%

Shares of NYSE WPC traded up $1.93 during midday trading on Tuesday, hitting $63.76. The stock had a trading volume of 1,510,196 shares, compared to its average volume of 1,159,741. The company's 50-day simple moving average is $62.40 and its 200 day simple moving average is $60.56. The firm has a market cap of $13.96 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 6.07 and a beta of 0.78. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. 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 (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. During the same period last year, the business posted $1.14 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Research analysts anticipate 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 was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.90 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio is currently 185.57%.

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.