Greenleaf Trust Takes Position in W.P. Carey Inc. (NYSE:WPC)

Greenleaf Trust purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,002 shares of the real estate investment trust's stock, valued at approximately $253,000.

Other large investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in W.P. Carey during the first quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of W.P. Carey in the 4th quarter valued at approximately $37,000. Bessemer Group Inc. boosted its stake in shares of W.P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey in the 4th quarter valued at approximately $44,000. Finally, Hoey Investments Inc. acquired a new stake in shares of W.P. Carey in the 4th quarter valued at approximately $48,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research analyst reports. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI raised their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an "underweight" rating in a research note 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 target on the stock in a research note on Monday, June 9th. Finally, Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One equities research 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 an average rating of "Hold" and a consensus target price of $104.22.

W.P. Carey Trading Up 0.5%

NYSE WPC traded up $0.33 during trading hours on Friday, reaching $62.81. The company's stock had a trading volume of 1,142,203 shares, compared to its average volume of 1,162,262. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The firm has a fifty day simple moving average of $62.34 and a 200-day simple moving average of $60.26. The stock has a market cap of $13.75 billion, a P/E ratio of 32.38, a P/E/G ratio of 6.99 and a beta of 0.78.

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

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.73%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 185.57%.

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.