KLP Kapitalforvaltning AS Acquires 34,800 Shares of W.P. Carey Inc. $WPC

KLP Kapitalforvaltning AS grew its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 307,300 shares of the real estate investment trust's stock after purchasing an additional 34,800 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.14% of W.P. Carey worth $19,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in W.P. Carey during the 1st quarter worth $26,000. TCTC Holdings LLC grew its position in W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 242 shares during the last quarter. Cheviot Value Management LLC bought a new stake in W.P. Carey during the 1st quarter worth $37,000. V Square Quantitative Management LLC bought a new stake in W.P. Carey during the 2nd quarter worth $40,000. Finally, Hilltop National Bank bought a new stake in W.P. Carey during the 2nd quarter worth $43,000. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Down 1.4%

Shares of NYSE:WPC opened at $67.25 on Thursday. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 44.24, a P/E/G ratio of 9.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The business's 50-day moving average is $66.88 and its 200-day moving average is $63.60. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm's revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. This is an increase 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 dividend on an annualized basis and a yield of 5.4%. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada lifted their target price on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group lifted their target price on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Scotiabank lifted their target price on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of W.P. Carey in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.22.

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.

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