QRG Capital Management Inc. Purchases 14,689 Shares of W.P. Carey Inc. (NYSE:WPC)

QRG Capital Management Inc. increased its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,034 shares of the real estate investment trust's stock after purchasing an additional 14,689 shares during the period. QRG Capital Management Inc. owned approximately 0.06% of W.P. Carey worth $8,333,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sagespring Wealth Partners LLC bought a new position in W.P. Carey during the first quarter valued at $216,000. Hanson & Doremus Investment Management bought a new position in W.P. Carey during the first quarter valued at $85,000. Dynamic Advisor Solutions LLC bought a new position in W.P. Carey during the first quarter valued at $889,000. Family Wealth Partners LLC bought a new position in W.P. Carey during the first quarter valued at $203,000. Finally, IAG Wealth Partners LLC increased 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 acquiring an additional 163 shares during the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Stock Down 0.5%

W.P. Carey stock traded down $0.34 during midday trading on Friday, hitting $63.38. 3,623,878 shares of the company's stock were exchanged, compared to its average volume of 1,165,425. 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 Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The firm has a 50-day moving average of $61.86 and a two-hundred day moving average of $59.48. The company has a market cap of $13.88 billion, a PE ratio of 32.67, a P/E/G ratio of 7.06 and a beta of 0.80.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same quarter in the previous year, the company earned $1.14 earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.68%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's dividend payout ratio is presently 183.51%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WPC. Scotiabank boosted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their price objective on shares of W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. UBS Group cut their price objective on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Barclays set a $61.00 target price on shares of W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. Finally, BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $100.40.

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.