Public Employees Retirement System of Ohio Purchases 4,942 Shares of W.P. Carey Inc. $WPC

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in W.P. Carey Inc. by 1.3%, acquiring 4,942 shares for a total of 384,328 shares, valued at approximately $23.97 million.
• W.P. Carey reported a 10.5% year-over-year revenue growth, with Q2 earnings per share of $1.28, exceeding analysts’ expectations of $1.23.
• The company declared a quarterly dividend of $0.91 per share, reflecting a 5.4% dividend yield, marking an increase from the previous dividend of $0.90.

Public Employees Retirement System of Ohio grew its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 384,328 shares of the real estate investment trust's stock after purchasing an additional 4,942 shares during the period. Public Employees Retirement System of Ohio owned about 0.18% of W.P. Carey worth $23,974,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in W.P. Carey during the first quarter worth about $26,000. TCTC Holdings LLC lifted its stake in W.P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 242 shares during the last quarter. Cheviot Value Management LLC bought a new stake in W.P. Carey during the first quarter worth about $37,000. Summit Securities Group LLC lifted its stake in shares of W.P. Carey by 60.0% in the 1st quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 300 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of W.P. Carey by 74.6% in the 1st quarter. National Pension Service now owns 812 shares of the real estate investment trust's stock valued at $51,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Up 0.2%

WPC stock opened at $67.45 on Friday. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00. The business's 50 day moving average price is $66.05 and its two-hundred day moving average price is $63.22. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 44.37, a price-to-earnings-growth ratio of 9.80 and a beta of 0.82.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter in the prior year, the business earned $1.17 EPS. The business's revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is presently 236.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WPC shares. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research note on Monday, June 9th. Scotiabank boosted their target price on W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Friday, September 5th. Royal Bank Of Canada boosted their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group boosted their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Finally, Barclays boosted their target price on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, W.P. Carey has an average rating of "Hold" and a consensus price target of $67.22.

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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