Nuveen LLC Makes New $30.19 Million Investment in W.P. Carey Inc. (NYSE:WPC)

Key Points

• Nuveen LLC invested approximately $30.19 million in W.P. Carey Inc. by acquiring 478,434 shares, increasing its ownership to about 0.22% of the company.
• W.P. Carey announced a quarterly dividend of $0.90 per share, marking a rise from the previous dividend of $0.89, which gives it an annualized yield of 5.5%.
• The company's recent quarterly earnings report revealed a 20.42% net margin with earnings per share of $1.28, surpassing analysts' expectations.

Nuveen LLC purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 478,434 shares of the real estate investment trust's stock, valued at approximately $30,194,000. Nuveen LLC owned about 0.22% of W.P. Carey as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. raised its holdings in W.P. Carey by 274.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock worth $322,630,000 after purchasing an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. raised its holdings in W.P. Carey by 1,016.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after purchasing an additional 1,595,045 shares during the last quarter. Northern Trust Corp raised its holdings in W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after purchasing an additional 758,627 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in W.P. Carey during the 4th quarter worth approximately $31,124,000. Finally, Private Management Group Inc. bought a new position in W.P. Carey during the 1st quarter worth approximately $29,923,000. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Performance

NYSE WPC opened at $65.14 on Friday. The company has a fifty day simple moving average of $63.65 and a 200 day simple moving average of $61.87. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.64. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a market cap of $14.27 billion, a P/E ratio of 42.86, a PEG ratio of 9.51 and a beta of 0.78.

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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the firm posted $1.17 EPS. W.P. Carey's revenue was up 10.5% compared to the same quarter last year. Sell-side analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

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

Analyst Ratings Changes

WPC has been the subject of several analyst reports. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Barclays set a $61.00 price objective on shares of W.P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. Evercore ISI raised their price objective on shares of 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. Finally, UBS Group raised their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $65.33.

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.

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