Dynamic Advisor Solutions LLC Acquires New Shares in W.P. Carey Inc. (NYSE:WPC)

Dynamic Advisor Solutions LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,088 shares of the real estate investment trust's stock, valued at approximately $889,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Family Wealth Partners LLC bought a new stake in W.P. Carey during the 1st quarter valued at $203,000. IAG Wealth Partners LLC raised its stake in W.P. Carey by 7.0% during the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after acquiring an additional 163 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in W.P. Carey by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,509 shares of the real estate investment trust's stock valued at $13,096,000 after acquiring an additional 6,000 shares in the last quarter. Griffin Asset Management Inc. raised its stake in W.P. Carey by 7.7% during the 1st quarter. Griffin Asset Management Inc. now owns 32,058 shares of the real estate investment trust's stock valued at $2,023,000 after acquiring an additional 2,289 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC bought a new stake in W.P. Carey during the 1st quarter valued at $229,000. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Up 0.2%

Shares of W.P. Carey stock opened at $62.93 on Wednesday. The stock's fifty day moving average is $61.51 and its 200-day moving average is $59.32. The firm has a market capitalization of $13.78 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 6.54 and a beta of 0.80. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its 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 company had revenue of $407.44 million for the quarter, compared to analyst estimates 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 period last year, the firm earned $1.14 earnings per share. Equities analysts anticipate 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. Stockholders of record on Monday, June 30th will be issued a dividend of $0.90 per share. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.72%. W.P. Carey's payout ratio is currently 183.51%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. BNP Paribas Exane raised 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 boosted their price objective on W.P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Finally, BNP Paribas set a $66.00 price objective on W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, W.P. Carey has a consensus rating of "Hold" and an average target price of $100.40.

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.

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