Kingstone Capital Partners Texas LLC Purchases Shares of 385,225 W.P. Carey Inc. $WPC

Key Points

• Kingstone Capital Partners Texas LLC has invested approximately $24.03 million in W.P. Carey Inc. by acquiring 385,225 shares during the second quarter, marking a 0.18% ownership in the company.
• Wells Fargo upgraded W.P. Carey from an "equal weight" to an "overweight" rating, raising the price target from $68.00 to $72.00, reflecting growing positive sentiment among analysts.
• The company announced a quarterly dividend increase to $0.91 per share, up from $0.90, representing an annualized yield of 5.4%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 385,225 shares of the real estate investment trust's stock, valued at approximately $24,030,000. Kingstone Capital Partners Texas LLC owned 0.18% of W.P. Carey as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in shares of W.P. Carey by 6.6% in the 2nd quarter. Exchange Traded Concepts LLC now owns 63,927 shares of the real estate investment trust's stock valued at $3,988,000 after purchasing an additional 3,986 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of W.P. Carey by 1.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 211,494 shares of the real estate investment trust's stock valued at $13,373,000 after acquiring an additional 3,985 shares in the last quarter. Strathmore Capital Advisors Inc. bought a new position in shares of W.P. Carey during the 2nd quarter worth $267,000. Capital Advisory Group Advisory Services LLC raised its holdings in shares of W.P. Carey by 7.6% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 3,907 shares of the real estate investment trust's stock valued at $244,000 after buying an additional 275 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of W.P. Carey by 52.6% in the 2nd quarter. Swedbank AB now owns 48,775 shares of the real estate investment trust's stock valued at $3,043,000 after purchasing an additional 16,816 shares during the period. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WPC shares. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. UBS Group increased their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a report on Friday, August 15th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a report on Monday, June 9th. Scotiabank increased their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Friday, September 5th. Finally, Royal Bank Of Canada increased their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $67.22.

W.P. Carey Price Performance

WPC stock traded up $0.45 on Tuesday, hitting $67.55. 293,415 shares of the company's stock traded hands, compared to its average volume of 1,231,661. 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 stock has a market cap of $14.79 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 9.78 and a beta of 0.82. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.00. The stock has a fifty day moving average of $65.70 and a 200-day moving average of $63.14.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, analysts forecast 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 will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.91 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. W.P. Carey's payout ratio is 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.