Martingale Asset Management L P Grows Stake in W.P. Carey Inc. $WPC

Key Points

• Martingale Asset Management L P increased its stake in W.P. Carey Inc. by 651.9%, acquiring 116,579 shares during the first quarter, bringing its total ownership to 134,463 shares valued at approximately $8.5 million.
• W.P. Carey reported a quarterly earnings per share (EPS) of $1.28, exceeding analysts' expectations of $1.23, with revenue of $430.78 million, a 10.5% increase year-over-year.
• The company has announced a quarterly dividend increase to $0.90 per share, representing a 5.4% yield, while maintaining a high dividend payout ratio of 236.84%.

Martingale Asset Management L P boosted its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 651.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,463 shares of the real estate investment trust's stock after purchasing an additional 116,579 shares during the quarter. Martingale Asset Management L P owned about 0.06% of W.P. Carey worth $8,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of W.P. Carey by 13.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after acquiring an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in W.P. Carey by 4.6% in 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 last quarter. Capital Advisors Inc. OK bought a new stake in W.P. Carey in the first quarter worth $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in W.P. Carey by 6.5% during the fourth 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, GAMMA Investing LLC grew its stake in shares of W.P. Carey by 36.1% during the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock valued at $162,000 after buying an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

WPC has been the topic of several recent research reports. Evercore ISI raised their price target on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Barclays raised their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a report on Wednesday. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a report on Monday, June 9th. UBS Group increased their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $65.67.

W.P. Carey Trading Down 0.6%

NYSE:WPC traded down $0.4010 during trading hours on Friday, hitting $66.1190. The company had a trading volume of 1,446,012 shares, compared to its average volume of 1,363,213. 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 stock has a 50-day moving average price of $63.90 and a 200 day moving average price of $62.26. The company has a market capitalization of $14.48 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 9.65 and a beta of 0.78. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $67.40.

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 EPS 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 firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period last year, the company posted $1.17 EPS. The company'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. On average, equities research analysts predict 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. 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. This represents a $3.60 annualized dividend and a yield of 5.4%. W.P. Carey's payout ratio is currently 236.84%.

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.