Gallacher Capital Management LLC Makes New $682,000 Investment in W.P. Carey Inc. (NYSE:WPC)

Gallacher Capital Management LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 10,802 shares of the real estate investment trust's stock, valued at approximately $682,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC raised its position in shares of 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 acquiring an additional 163 shares during the period. GF Fund Management CO. LTD. raised its position in shares of 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 acquiring an additional 168 shares during the period. DF Dent & Co. Inc. raised its position in shares of W.P. Carey by 3.5% in the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after acquiring an additional 183 shares during the period. HighTower Advisors LLC raised its position in shares of W.P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after acquiring an additional 193 shares during the period. Finally, World Investment Advisors raised its holdings in W.P. Carey by 4.3% during the 1st quarter. World Investment Advisors now owns 6,909 shares of the real estate investment trust's stock worth $436,000 after buying an additional 284 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Price Performance

NYSE WPC traded up $1.93 during trading hours on Tuesday, hitting $63.76. The company had a trading volume of 1,510,231 shares, compared to its average volume of 1,159,741. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The firm has a 50 day simple moving average of $62.40 and a 200 day simple moving average of $60.56. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 6.07 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. Equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.90 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is currently 185.57%.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. 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. UBS Group reduced their price objective 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. Evercore ISI lifted 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 research report on Wednesday, July 2nd. Royal Bank Of Canada lifted their target price on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, W.P. Carey currently has an average rating of "Hold" and an average target price of $104.22.

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.