Invesco Ltd. Has $46.80 Million Stock Position in W.P. Carey Inc. $WPC

Key Points

• Invesco Ltd. reduced its holdings in W.P. Carey Inc. by 1.1% during the first quarter, owning approximately $46.80 million worth of the company's stock.
• Institutional investors currently hold 73.73% of W.P. Carey's stock, with notable increases in positions from JPMorgan Chase & Co. and Pacer Advisors Inc.
• W.P. Carey raised its quarterly dividend to $0.90 per share, reflecting a positive change from its previous dividend, with a yield of 5.5%.

Invesco Ltd. reduced its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 741,561 shares of the real estate investment trust's stock after selling 8,590 shares during the period. Invesco Ltd. owned about 0.34% of W.P. Carey worth $46,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted 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 worth $322,630,000 after buying an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of W.P. Carey by 1,016.8% in the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after acquiring an additional 1,595,045 shares during the last quarter. Northern Trust Corp increased its stake in shares of W.P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after acquiring an additional 758,627 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of W.P. Carey during the fourth quarter worth $31,124,000. Finally, Private Management Group Inc. acquired a new stake in W.P. Carey during the first quarter valued at $29,923,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of recent research reports. UBS Group boosted their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday. Royal Bank Of Canada increased their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research note on Monday, June 9th. Evercore ISI boosted their target price on 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, Barclays set a $61.00 price target on W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. One equities research 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 data from MarketBeat.com, W.P. Carey has an average rating of "Hold" and an average target price of $65.33.

W.P. Carey Stock Performance

WPC opened at $65.14 on Monday. 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 stock's 50 day moving average price is $63.65 and its two-hundred day moving average price is $61.91. The firm has a market capitalization of $14.27 billion, a P/E 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 12-month low of $52.91 and a 12-month high of $66.64.

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

W.P. Carey Increases Dividend

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

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.

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