Frank Rimerman Advisors LLC Has $1.22 Million Stock Holdings in W.P. Carey Inc. (NYSE:WPC)

Key Points

• Frank Rimerman Advisors LLC increased its stake in W.P. Carey Inc. by 160.8% during the first quarter, holding shares valued at approximately $1.22 million.
• W.P. Carey reported a quarterly EPS of $1.28, surpassing the consensus estimate of $1.23, with revenue rising by 10.5% year-over-year to $430.78 million.
• The company has recently increased its quarterly dividend to $0.90 per share, reflecting a yield of 5.5%.

Frank Rimerman Advisors LLC lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 160.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,309 shares of the real estate investment trust's stock after buying an additional 11,905 shares during the quarter. Frank Rimerman Advisors LLC's holdings in W.P. Carey were worth $1,219,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in W.P. Carey during the first quarter worth approximately $26,000. TCTC Holdings LLC lifted its holdings in W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in W.P. Carey during the 1st quarter worth approximately $37,000. Bessemer Group Inc. lifted its holdings in W.P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $65.88 on Friday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.64. The stock has a market capitalization of $14.43 billion, a PE ratio of 43.35, a PEG ratio of 9.62 and a beta of 0.78. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average of $63.33 and a 200-day moving average of $61.52.

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 EPS 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 business had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. During the same period in the previous year, the business earned $1.17 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.5%. W.P. Carey's payout ratio is presently 236.84%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WPC shares. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. UBS Group dropped their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, W.P. Carey has a consensus rating of "Hold" and an average target price of $65.00.

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.

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