Penserra Capital Management LLC Buys 4,287 Shares of W.P. Carey Inc. (NYSE:WPC)

Penserra Capital Management LLC boosted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,571 shares of the real estate investment trust's stock after buying an additional 4,287 shares during the quarter. Penserra Capital Management LLC's holdings in W.P. Carey were worth $1,613,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. von Borstel & Associates Inc. bought a new position in W.P. Carey in the first quarter valued at about $26,000. Millstone Evans Group LLC bought a new position in shares of W.P. Carey during the fourth quarter worth about $37,000. Bessemer Group Inc. lifted its stake in shares of W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 402 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of W.P. Carey in the fourth quarter worth approximately $44,000. Finally, Hoey Investments Inc. acquired a new position in shares of W.P. Carey in the fourth quarter worth approximately $48,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WPC. 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 note on Tuesday, May 13th. Royal Bank Of Canada lifted their price objective on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note 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 note on Monday, June 9th. Barclays set a $61.00 price objective on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. Finally, Evercore ISI boosted their price target on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $100.60.

W.P. Carey Stock Up 0.5%

Shares of NYSE WPC traded up $0.33 during midday trading on Friday, hitting $62.81. 1,140,720 shares of the stock traded hands, compared to its average volume of 1,229,042. The company has a market cap of $13.75 billion, a PE ratio of 32.38, a P/E/G ratio of 6.88 and a beta of 0.78. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The business has a 50 day moving average price of $62.32 and a two-hundred day moving average price of $60.17. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.73%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is 185.57%.

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.