Knights of Columbus Asset Advisors LLC Makes New $1.91 Million Investment in W.P. Carey Inc. $WPC

Key Points

• Knights of Columbus Asset Advisors LLC made a new investment of approximately $1.91 million in W.P. Carey Inc., acquiring 30,551 shares of the real estate investment trust in the 2nd quarter.
• W.P. Carey recently raised its quarterly dividend to $0.91, resulting in a yield of 5.3%, with a payout ratio currently at 239.47%.
• Analysts have set mixed outlooks on W.P. Carey, with a consensus target price of $67.22 and a "Hold" rating, amid recent upgrades and downgrades from various financial institutions.

Knights of Columbus Asset Advisors LLC acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,551 shares of the real estate investment trust's stock, valued at approximately $1,906,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WPC. IAG Wealth Partners LLC lifted its position in shares of W.P. Carey by 7.0% during the first quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock worth $157,000 after purchasing an additional 163 shares during the last quarter. GF Fund Management CO. LTD. lifted its position in shares of W.P. Carey by 4.2% during the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock worth $262,000 after purchasing an additional 168 shares during the last quarter. BridgePort Financial Solutions LLC lifted its position in shares of W.P. Carey by 0.6% during the second quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust's stock worth $1,789,000 after purchasing an additional 180 shares during the last quarter. Cooper Financial Group lifted its position in shares of W.P. Carey by 1.5% during the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust's stock worth $749,000 after purchasing an additional 181 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in shares of W.P. Carey by 2.8% during the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock worth $434,000 after purchasing an additional 185 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have 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 target price for the company in a research report on Monday, June 9th. Barclays lifted their target price 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. Wells Fargo & Company upgraded W.P. Carey from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Weiss Ratings restated a "hold (c)" rating on shares of W.P. Carey in a report on Saturday, September 27th. Finally, Royal Bank Of Canada lifted 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 investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $67.22.

W.P. Carey Stock Performance

Shares of W.P. Carey stock opened at $68.11 on Tuesday. The company has a market capitalization of $14.92 billion, a PE ratio of 44.81, a P/E/G ratio of 10.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The company has a 50-day simple moving average of $66.74 and a two-hundred day simple moving average of $63.54. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results 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 business 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 was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research 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 issued a $0.91 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, September 30th. W.P. Carey's dividend payout ratio is presently 239.47%.

About W.P. Carey

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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