385,225 Shares in W.P. Carey Inc. $WPC Bought by Kingstone Capital Partners Texas LLC

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 acquired a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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).

Several other hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in W.P. Carey by 13.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock valued at $758,000 after acquiring an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock worth $38,272,000 after purchasing an additional 26,665 shares during the period. Capital Advisors Inc. OK purchased a new position in W.P. Carey in the 1st quarter valued at $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W.P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock valued at $119,235,000 after buying an additional 134,523 shares during the period. Finally, Ethos Financial Group LLC purchased a new position in W.P. Carey during the 1st quarter worth $372,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Performance

Shares of NYSE:WPC traded up $0.00 during trading on Monday, hitting $67.17. 828,082 shares of the stock were exchanged, compared to its average volume of 1,236,957. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth 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 company's fifty day simple moving average is $65.62 and its 200-day simple moving average is $63.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey's payout ratio is currently 236.84%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WPC shares. BNP Paribas Exane upgraded 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. Evercore ISI upped their target price on W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. UBS Group raised their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.22.

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.