MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in W.P. Carey Inc. $WPC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in W.P. Carey Inc. by 35.3%, acquiring an additional 40,738 shares during the first quarter, now owning 156,194 shares valued at approximately $9.86 million.
• W.P. Carey announced a quarterly dividend increase from $0.89 to $0.90 per share, resulting in a 5.3% dividend yield and a significant dividend payout ratio of 236.84%.
• The company reported EPS of $1.28 for the last quarter, exceeding analysts' expectations, with revenue rising 10.5% year-over-year, leading to guidance of 4.87-4.95 EPS for FY 2025.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,194 shares of the real estate investment trust's stock after buying an additional 40,738 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of W.P. Carey worth $9,857,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. IAG Wealth Partners LLC lifted its holdings 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 period. GF Fund Management CO. LTD. lifted its holdings 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 period. Crestwood Advisors Group LLC lifted its holdings 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 period. SouthState Corp lifted its holdings in shares of W.P. Carey by 15.7% during the first quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 195 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of W.P. Carey by 1.0% during the first quarter. AlphaQuest LLC now owns 21,684 shares of the real estate investment trust's stock worth $1,368,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WPC shares. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $68.00 to $72.00 in a report on Thursday. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a report on Monday, June 9th. Evercore ISI raised 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. Royal Bank Of Canada raised 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. Finally, BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $66.78.

W.P. Carey Price Performance

W.P. Carey stock traded up $0.23 during midday trading on Friday, reaching $68.69. 1,041,642 shares of the company were exchanged, compared to its average volume of 1,097,273. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 45.19, a P/E/G ratio of 9.97 and a beta of 0.82. The firm's 50-day simple moving average is $65.08 and its 200-day simple moving average is $63.02. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $68.98. 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 posted its quarterly earnings data 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 firm 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 last year, the business posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

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.