Exchange Traded Concepts LLC Acquires 3,986 Shares of 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 boosted its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 6.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of W.P. Carey by 6.8% during the 4th quarter. Toronto Dominion Bank now owns 29,414 shares of the real estate investment trust's stock valued at $1,602,000 after acquiring an additional 1,863 shares during the period. Two Sigma Investments LP lifted its stake in W.P. Carey by 30.5% in the 4th quarter. Two Sigma Investments LP now owns 47,797 shares of the real estate investment trust's stock worth $2,604,000 after purchasing an additional 11,180 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in W.P. Carey in the 4th quarter worth approximately $458,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in W.P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock worth $119,235,000 after purchasing an additional 134,523 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in W.P. Carey in the 4th quarter worth approximately $44,000. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Performance

Shares of WPC traded up $0.44 during mid-day trading on Tuesday, hitting $67.54. 279,167 shares of the company traded hands, compared to its average volume of 1,231,606. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a 50-day moving average price of $65.70 and a two-hundred day moving average price of $63.14. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.00. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 44.43, a P/E/G ratio of 9.78 and a beta of 0.82.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating 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 firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period in the previous year, the company earned $1.17 earnings per share. The firm's quarterly revenue 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. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. W.P. Carey's dividend payout ratio is presently 236.84%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WPC shares. 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. Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Barclays lifted their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.22.

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.