Exchange Traded Concepts LLC Has $3.99 Million Stock Holdings in W.P. Carey Inc. $WPC

Key Points

• Exchange Traded Concepts LLC increased its stake in W.P. Carey Inc. by 6.6% during the second quarter, now holding 63,927 shares valued at approximately $3.99 million.
• W.P. Carey recently announced a quarterly dividend increase to $0.91 per share, up from $0.90, which yields about 5.4%.
• The stock has seen an average target price of $67.22 among analysts, with a consensus rating of "Hold".

Exchange Traded Concepts LLC grew its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,927 shares of the real estate investment trust's stock after purchasing an additional 3,986 shares during the period. Exchange Traded Concepts LLC's holdings in W.P. Carey were worth $3,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. grew its stake in shares of W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after acquiring an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of W.P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock valued at $110,564,000 after buying an additional 1,595,045 shares during the period. Nuveen LLC acquired a new stake in shares of W.P. Carey during the 1st quarter worth approximately $30,194,000. Private Management Group Inc. acquired a new position in shares of W.P. Carey during the first quarter valued at $29,923,000. Finally, Robeco Institutional Asset Management B.V. grew its position in W.P. Carey by 74.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 872,496 shares of the real estate investment trust's stock worth $55,063,000 after purchasing an additional 372,433 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of W.P. Carey stock traded up $0.00 during midday trading on Monday, hitting $67.17. 828,082 shares of the company were exchanged, compared to its average volume of 1,236,957. The firm has a 50 day simple moving average of $65.62 and a 200-day simple moving average of $63.12. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $14.71 billion, a P/E ratio of 44.19, a PEG ratio of 9.78 and a beta of 0.82. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.00.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same period in the prior year, the company earned $1.17 EPS. W.P. Carey's revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey's payout ratio is currently 236.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Barclays raised their price objective on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Finally, Evercore ISI raised their price objective on shares of W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, W.P. Carey has an average rating of "Hold" and a consensus price target of $67.22.

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.