Korea Investment CORP Buys 95,900 Shares of W.P. Carey Inc. $WPC

Key Points

• Korea Investment CORP significantly raised its stake in W.P. Carey Inc. by 146.4% in Q1, owning 161,423 shares valued at approximately $10.19 million.
• W.P. Carey recently declared a quarterly dividend of $0.90 per share, reflecting a $3.60 annualized dividend and a yield of 5.4%, up from the previous quarterly dividend of $0.89.
• Analysts maintain a consensus rating of “Hold” for W.P. Carey, with an average price target of $65.67, indicating moderate expectations for stock performance.

Korea Investment CORP boosted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 146.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,423 shares of the real estate investment trust's stock after acquiring an additional 95,900 shares during the quarter. Korea Investment CORP owned about 0.07% of W.P. Carey worth $10,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new stake in W.P. Carey in the first quarter worth about $26,000. TCTC Holdings LLC increased its stake in W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 242 shares in the last quarter. Cheviot Value Management LLC purchased a new position in W.P. Carey in the 1st quarter worth about $37,000. Fourth Dimension Wealth LLC purchased a new position in W.P. Carey in the 4th quarter worth about $44,000. Finally, Summit Securities Group LLC increased its stake in W.P. Carey by 60.0% in the 1st quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 300 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Barclays upped their target price on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a report on Wednesday. Royal Bank Of Canada upped their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a report on Monday, June 9th. Finally, Evercore ISI upped their target price on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, W.P. Carey currently has a consensus rating of "Hold" and an average price target of $65.67.

W.P. Carey Stock Down 0.6%

Shares of NYSE WPC traded down $0.4010 during trading hours on Friday, hitting $66.1190. The stock had a trading volume of 1,446,012 shares, compared to its average volume of 1,363,213. The company has a market capitalization of $14.48 billion, a P/E ratio of 43.50, a P/E/G ratio of 9.65 and a beta of 0.78. The firm's 50-day moving average price is $63.90 and its two-hundred day moving average price is $62.26. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $67.40. 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 announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. The business had revenue of $430.78 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio (DPR) 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.