Exchange Traded Concepts LLC Buys 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 raised its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 6.6% during the second quarter, according to the company in its most recent 13F 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 quarter. Exchange Traded Concepts LLC's holdings in W.P. Carey were worth $3,988,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WPC. JPMorgan Chase & Co. increased its position in W.P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after buying an additional 3,747,898 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in W.P. Carey by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock valued at $266,224,000 after acquiring an additional 195,466 shares during the period. Northern Trust Corp increased its holdings in shares of W.P. Carey by 2.1% in the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock worth $170,198,000 after purchasing an additional 55,615 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of W.P. Carey by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust's stock worth $168,018,000 after purchasing an additional 20,495 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of W.P. Carey by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust's stock worth $142,440,000 after purchasing an additional 68,414 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Performance

WPC traded down $0.28 during trading on Friday, hitting $67.17. The stock had a trading volume of 3,449,779 shares, compared to its average volume of 1,162,934. The firm has a market capitalization of $14.71 billion, a P/E ratio of 44.19, a PEG ratio of 9.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.00. The company's 50-day moving average price is $65.62 and its 200 day moving average price is $63.12.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share 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 analyst estimates of $420.99 million. During the same period in the prior year, the firm posted $1.17 EPS. The company's 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. On average, equities research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. 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. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

Analyst Ratings Changes

WPC has been the subject of several analyst reports. Barclays upped their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Evercore ISI upped their price target 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. Scotiabank upped their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.