Lecap Asset Management Ltd. Acquires Shares of 27,871 W.P. Carey Inc. (NYSE:WPC)

Lecap Asset Management Ltd. acquired a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,871 shares of the real estate investment trust's stock, valued at approximately $1,759,000.

A number of other large investors have also recently added to or reduced their stakes in WPC. IAG Wealth Partners LLC raised its position in W.P. Carey by 7.0% in the first quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after purchasing an additional 163 shares during the period. DF Dent & Co. Inc. raised its position in W.P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after purchasing an additional 183 shares during the period. HighTower Advisors LLC raised its position in W.P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after purchasing an additional 193 shares during the period. B. Riley Wealth Advisors Inc. raised its position in W.P. Carey by 5.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust's stock valued at $341,000 after purchasing an additional 315 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in W.P. Carey by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 44,584 shares of the real estate investment trust's stock valued at $2,429,000 after purchasing an additional 330 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Down 0.3%

NYSE:WPC traded down $0.16 during trading hours on Friday, hitting $62.82. The company's stock had a trading volume of 1,642,100 shares, compared to its average volume of 1,168,094. The stock has a market capitalization of $13.76 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 7.01 and a beta of 0.80. The stock has a fifty day moving average of $62.09 and a 200-day moving average of $59.72. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. On average, equities analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.73%. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 183.51%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent research reports. UBS Group cut their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Scotiabank upped their price objective on W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. Royal Bank Of Canada upped their price objective on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. BNP Paribas set a $66.00 price objective on W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company upped their price objective on W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $100.40.

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.