PFG Investments LLC Sells 4,387 Shares of W.P. Carey Inc. $WPC

Key Points

• PFG Investments LLC has reduced its stake in W.P. Carey Inc. by 27.5%, selling 4,387 shares and bringing its total holdings to 11,539 shares valued at $720,000.
• The company's quarterly dividend has increased from $0.90 to $0.91, resulting in an annualized dividend of $3.64 with a dividend yield of 5.3%.
• W.P. Carey’s recent earnings report showed EPS of $1.28, exceeding estimates, and projected FY 2025 EPS guidance is set between 4.870 to 4.950.

PFG Investments LLC reduced its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 27.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,539 shares of the real estate investment trust's stock after selling 4,387 shares during the quarter. PFG Investments LLC's holdings in W.P. Carey were worth $720,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC lifted its position in 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 valued at $157,000 after purchasing 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% in 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 acquiring an additional 168 shares during the last quarter. Cooper Financial Group lifted its holdings in shares of W.P. Carey by 1.5% in the 2nd quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust's stock valued at $749,000 after acquiring an additional 181 shares during the last quarter. Crestwood Advisors Group LLC grew its position in W.P. Carey by 2.8% in the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock worth $434,000 after acquiring an additional 185 shares in the last quarter. Finally, SouthState Corp increased its stake in 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 acquiring an additional 195 shares during the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Up 1.0%

Shares of WPC opened at $69.15 on Friday. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 9.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The company has a 50-day moving average of $66.66 and a 200 day moving average of $63.47.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results 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. 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 for the quarter, compared to the consensus estimate of $420.99 million. During the same period in the prior year, the firm earned $1.17 EPS. The company's revenue for the quarter 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, research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.3%. W.P. Carey's dividend payout ratio is presently 239.47%.

Analysts Set New Price Targets

WPC has been the subject of a number of recent research reports. Wells Fargo & Company upgraded W.P. Carey from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Royal Bank Of Canada lifted 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 note on Thursday, July 31st. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Evercore ISI raised their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of W.P. Carey in a research note on Saturday, September 27th. Three 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 company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.22.

About W.P. Carey

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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