Deutsche Bank AG Increases Position in W.P. Carey Inc. (NYSE:WPC)

Key Points

• Deutsche Bank AG increased its stake in W.P. Carey Inc. by 2.0%, owning 291,308 shares valued at approximately $18.38 million as of the latest quarter.
• W.P. Carey announced a quarterly dividend increase to $0.90 per share, reflecting a 5.5% dividend yield with a payout ratio of 236.84%.
• The company reported earnings of $1.28 per share for the last quarter, surpassing analyst expectations and showing a 10.5% year-over-year revenue growth to $430.78 million.

Deutsche Bank AG increased its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,308 shares of the real estate investment trust's stock after purchasing an additional 5,701 shares during the quarter. Deutsche Bank AG owned 0.13% of W.P. Carey worth $18,384,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of W.P. Carey in the 1st quarter valued at about $26,000. TCTC Holdings LLC increased its holdings in shares of W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 242 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of W.P. Carey in the 1st quarter valued at about $37,000. Bessemer Group Inc. increased its holdings in shares of W.P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Price Performance

W.P. Carey stock opened at $65.72 on Thursday. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.64. The stock has a market capitalization of $14.39 billion, a P/E ratio of 43.24, a P/E/G ratio of 9.56 and a beta of 0.78. The firm's 50-day moving average is $63.53 and its two-hundred day moving average is $61.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

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, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. During the same period last year, the company earned $1.17 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.90 dividend. 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 5.5%. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's dividend payout ratio is 236.84%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WPC shares. UBS Group lowered their price objective on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research note on Monday, June 9th. 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 note on Wednesday, July 2nd. Finally, Royal Bank Of Canada raised their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and an average price target of $65.00.

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.

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