Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Position in W.P. Carey Inc. (NYSE:WPC)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in W.P. Carey Inc. by 6.9%, now owning 65,134 shares valued at approximately $4.11 million.
• W.P. Carey reported a quarterly earnings per share (EPS) of $1.28, exceeding expectations, alongside a net margin of 20.42% and a revenue increase of 10.5% year-over-year.
• The company raised its quarterly dividend to $0.90, reflecting an annualized dividend of $3.60 with a yield of 5.5%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,134 shares of the real estate investment trust's stock after selling 4,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in W.P. Carey were worth $4,111,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WPC. IAG Wealth Partners LLC boosted its holdings in W.P. Carey by 7.0% in 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 purchasing an additional 163 shares during the last quarter. GF Fund Management CO. LTD. boosted its holdings in W.P. Carey by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock valued at $262,000 after purchasing an additional 168 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in W.P. Carey by 2.8% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock valued at $434,000 after purchasing an additional 185 shares during the last quarter. SouthState Corp boosted its holdings in W.P. Carey by 15.7% in the 1st quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 195 shares during the last quarter. Finally, Applied Finance Capital Management LLC boosted its holdings in W.P. Carey by 4.2% in the 1st quarter. Applied Finance Capital Management LLC now owns 5,490 shares of the real estate investment trust's stock valued at $346,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W.P. Carey Price Performance

W.P. Carey stock opened at $65.14 on Friday. The firm has a market cap of $14.27 billion, a PE ratio of 42.86, a price-to-earnings-growth ratio of 9.51 and a beta of 0.78. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.64. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The company's 50 day moving average is $63.65 and its two-hundred day moving average is $61.87.

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

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 236.84%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays set a $61.00 price objective on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a report on Monday, June 9th. Evercore ISI upped their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Finally, BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.33.

About W.P. Carey

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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