Dynamic Advisor Solutions LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,088 shares of the real estate investment trust's stock, valued at approximately $889,000.
Several other large investors have also bought and sold shares of the stock. Family Wealth Partners LLC bought a new position in W.P. Carey during the 1st quarter valued at $203,000. IAG Wealth Partners LLC lifted 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 lifted 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. boosted its holdings in shares of W.P. Carey by 7.7% in the 1st quarter. Griffin Asset Management Inc. now owns 32,058 shares of the real estate investment trust's stock worth $2,023,000 after buying an additional 2,289 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in shares of W.P. Carey in the 1st quarter worth about $229,000. 73.73% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on WPC shares. Wells Fargo & Company boosted their price target on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a report on Monday, June 9th. Scotiabank boosted their price target on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. 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. Finally, Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $100.40.
Read Our Latest Research Report on W.P. Carey
W.P. Carey Price Performance
WPC traded down $0.34 during midday trading on Friday, hitting $63.38. The stock had a trading volume of 3,623,878 shares, compared to its average volume of 1,165,425. The company has a market cap of $13.88 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 7.06 and a beta of 0.80. The business has a fifty day moving average of $61.86 and a 200 day moving average of $59.48. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.
W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm 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 firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. As a group, equities analysts forecast 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. Stockholders of record on Monday, June 30th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.68%. 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. W.P. Carey's dividend payout ratio is 183.51%.
W.P. Carey Profile
(
Free Report)
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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