Planning Directions Inc. bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 37,191 shares of the real estate investment trust's stock, valued at approximately $2,347,000. W.P. Carey comprises approximately 1.0% of Planning Directions Inc.'s investment portfolio, making the stock its 24th biggest holding.
Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of W.P. Carey during the fourth quarter worth about $139,381,000. Demars Financial Group LLC increased its stake in W.P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in W.P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp increased its stake 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 valued at $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of W.P. Carey in the fourth quarter valued at about $31,442,000. Institutional investors own 73.73% of the company's stock.
W.P. Carey Stock Performance
W.P. Carey stock traded down $0.24 during midday trading on Tuesday, hitting $62.42. 190,652 shares of the company were exchanged, compared to its average volume of 1,162,161. The firm has a market capitalization of $13.67 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 7.04 and a beta of 0.78. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The business has a fifty day simple moving average of $62.30 and a two-hundred day simple moving average of $60.09. 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 posted its earnings results 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 company had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.90 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.77%. The ex-dividend date is Monday, June 30th. W.P. Carey's dividend payout ratio (DPR) is presently 185.57%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on WPC. Royal Bank Of Canada increased their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Evercore ISI increased their price objective 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. Scotiabank increased their price objective on W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Wells Fargo & Company increased their price objective on W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, W.P. Carey currently has a consensus rating of "Hold" and an average price target of $100.60.
Read Our Latest Research Report on W.P. Carey
About W.P. Carey
(
Free Report)
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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