Concurrent Investment Advisors LLC Grows Position in W.P. Carey Inc. (NYSE:WPC)

Concurrent Investment Advisors LLC raised its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 46.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,853 shares of the real estate investment trust's stock after buying 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 SEC filing.

A number of other large investors have also modified their holdings of WPC. von Borstel & Associates Inc. acquired a new position in shares of W.P. Carey during the 1st quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in shares of W.P. Carey during the 4th quarter valued at about $37,000. Bessemer Group Inc. boosted its position in shares of 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 valued at $40,000 after acquiring an additional 402 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of W.P. Carey during the 4th quarter valued at about $44,000. Finally, Hoey Investments Inc. acquired a new position in shares of W.P. Carey during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Up 0.5%

NYSE:WPC traded up $0.33 on Friday, reaching $62.81. 1,142,203 shares of the company's stock were exchanged, compared to its average volume of 1,162,262. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 6.99 and a beta of 0.78. The business has a fifty day moving average of $62.34 and a 200-day moving average of $60.26. 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 issued 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 return on equity of 5.02% and a net margin of 26.66%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. As a group, analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a yield of 5.73%. W.P. Carey's dividend payout ratio is 185.57%.

Wall Street Analyst Weigh In

WPC has been the topic of several recent research reports. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Evercore ISI boosted 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 report on Wednesday, July 2nd. UBS Group decreased their target price on shares of 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, BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, W.P. Carey currently has an average rating of "Hold" and a consensus price target of $100.60.

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.