QRG Capital Management Inc. Increases Holdings in W.P. Carey Inc. $WPC

Key Points

• QRG Capital Management Inc. increased its holdings in W.P. Carey Inc. by 4.1%, now owning 137,390 shares valued at approximately $8.57 million as of the latest SEC filing.
• W.P. Carey recently raised its quarterly dividend to $0.91 per share, resulting in an annualized dividend yield of 5.3% and a payout ratio of 239.47%.
• Wall Street analysts have a consensus rating of "Hold" on W.P. Carey stock, with an average target price set at $67.22.

QRG Capital Management Inc. grew its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,390 shares of the real estate investment trust's stock after buying an additional 5,356 shares during the period. QRG Capital Management Inc. owned 0.06% of W.P. Carey worth $8,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WPC. JPMorgan Chase & Co. lifted 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 buying an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. lifted 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 buying an additional 1,595,045 shares during the last quarter. Nuveen LLC purchased a new stake in W.P. Carey during the 1st quarter worth about $30,194,000. Private Management Group Inc. purchased a new stake in W.P. Carey during the 1st quarter worth about $29,923,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in W.P. Carey during the 2nd quarter worth about $24,030,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of several research reports. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Weiss Ratings reissued a "hold (c)" rating on shares of W.P. Carey in a report on Saturday, September 27th. 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 report on Friday, September 5th. 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 report 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 report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.22.

W.P. Carey Stock Up 1.0%

WPC opened at $69.15 on Monday. The business has a 50 day moving average price of $66.66 and a two-hundred day moving average price of $63.50. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The company has a market cap of $15.14 billion, a PE ratio of 45.49, a P/E/G ratio of 10.07 and a beta of 0.81. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79.

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

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.3%. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

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.

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