Concurrent Investment Advisors LLC Purchases 5,322 Shares of 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 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,853 shares of the real estate investment trust's stock after purchasing an additional 5,322 shares during the period. Concurrent Investment Advisors LLC's holdings in W.P. Carey were worth $1,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of W.P. Carey in the 1st quarter worth about $26,000. Millstone Evans Group LLC bought a new stake in W.P. Carey in the fourth quarter worth about $37,000. Bessemer Group Inc. increased its stake 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 worth $40,000 after purchasing an additional 402 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of W.P. Carey in the 4th quarter worth approximately $44,000. Finally, Hoey Investments Inc. bought a new stake in shares of W.P. Carey in the 4th quarter worth approximately $48,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Trading Up 0.5%

Shares of W.P. Carey stock traded up $0.33 during trading on Friday, reaching $62.81. 1,140,720 shares of the stock were exchanged, compared to its average volume of 1,229,042. 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 cap of $13.75 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 6.88 and a beta of 0.78. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The stock's fifty day moving average is $62.32 and its 200 day moving average is $60.17.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. W.P. Carey's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. As a group, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This is an increase 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%. The ex-dividend date is Monday, June 30th. W.P. Carey's payout ratio is presently 185.57%.

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a report on Monday, June 9th. Royal Bank Of Canada lifted their target price on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. 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 report on Tuesday, May 13th. Finally, Evercore ISI raised 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 report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.