New Age Alpha Advisors LLC Raises Holdings in W.P. Carey Inc. (NYSE:WPC)

Key Points

• New Age Alpha Advisors LLC increased its stake in W.P. Carey Inc. by 23.8%, acquiring an additional 14,702 shares, bringing its total holdings to 76,348 shares valued at $4.8 million.
• W.P. Carey announced a quarterly dividend increase to $0.90 per share, translating to an annualized dividend of $3.60 and a yield of 5.4%.
• W.P. Carey reported earnings per share of $1.28 for the quarter, exceeding expectations and marking a 10.5% revenue growth year-over-year.

New Age Alpha Advisors LLC lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 23.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,348 shares of the real estate investment trust's stock after acquiring an additional 14,702 shares during the quarter. New Age Alpha Advisors LLC's holdings in W.P. Carey were worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. IAG Wealth Partners LLC grew its stake in shares of W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock worth $157,000 after buying an additional 163 shares during the last quarter. GF Fund Management CO. LTD. lifted its holdings in shares of W.P. Carey by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock valued at $262,000 after buying 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 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock valued at $434,000 after buying an additional 185 shares during the period. Applied Finance Capital Management LLC lifted its holdings in shares of W.P. Carey by 4.2% during the 1st quarter. Applied Finance Capital Management LLC now owns 5,490 shares of the real estate investment trust's stock valued at $346,000 after buying an additional 221 shares during the period. Finally, TCTC Holdings LLC lifted its holdings in shares of W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 242 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Price Performance

NYSE:WPC traded up $0.10 on Friday, reaching $65.88. 934,547 shares of the company's stock traded hands, compared to its average volume of 1,394,147. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock has a 50-day simple moving average of $63.33 and a 200-day simple moving average of $61.48. The firm has a market cap of $14.43 billion, a PE ratio of 43.35, a P/E/G ratio of 9.61 and a beta of 0.78. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.64.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The business had revenue of $430.78 million for 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 business's quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $1.17 earnings per share. Equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.90 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's payout ratio is 236.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WPC shares. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. UBS Group lowered their price target on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Barclays set a $61.00 target price on W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Evercore ISI raised their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Finally, BNP Paribas Exane raised 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $65.00.

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.