Concurrent Investment Advisors LLC Boosts Stock Holdings in W.P. Carey Inc. (NYSE:WPC)

Concurrent Investment Advisors LLC grew its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 46.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,853 shares of the real estate investment trust's stock after purchasing an additional 5,322 shares during the quarter. Concurrent Investment Advisors LLC's holdings in W.P. Carey were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new position in shares of W.P. Carey during the first quarter worth $26,000. Millstone Evans Group LLC bought a new position in shares of W.P. Carey during the fourth quarter worth $37,000. Bessemer Group Inc. boosted its position in shares of W.P. Carey by 118.6% during the fourth 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 last quarter. Fourth Dimension Wealth LLC bought a new position in shares of W.P. Carey during the fourth quarter worth $44,000. Finally, Hoey Investments Inc. bought a new position in shares of W.P. Carey during the fourth quarter worth $48,000. Institutional investors own 73.73% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WPC. Scotiabank upped their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. UBS Group lowered their price objective 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. Evercore ISI increased their price objective 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. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. Finally, BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, W.P. Carey currently has an average rating of "Hold" and an average target price of $100.60.

W.P. Carey Trading Up 1.2%

Shares of WPC traded up $0.76 during midday trading on Thursday, hitting $62.56. The stock had a trading volume of 1,139,873 shares, compared to its average volume of 1,168,153. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The firm has a market cap of $13.70 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 6.88 and a beta of 0.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The stock's 50 day moving average is $62.32 and its 200 day moving average is $60.17.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly 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). The company had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.75%. 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 dividend payout ratio (DPR) 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.