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

QRG Capital Management Inc. increased its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,034 shares of the real estate investment trust's stock after acquiring an additional 14,689 shares during the quarter. QRG Capital Management Inc. owned about 0.06% of W.P. Carey worth $8,333,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of W.P. Carey by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after purchasing an additional 242,576 shares during the period. Geode Capital Management LLC increased its holdings in shares of W.P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after purchasing an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 worth $219,170,000 after purchasing an additional 906,622 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of W.P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock worth $143,926,000 after purchasing an additional 43,197 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of 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 worth $143,894,000 after purchasing an additional 758,627 shares during the period. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WPC. Scotiabank boosted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. UBS Group dropped 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 report on Tuesday, May 13th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a research note on Monday, June 9th. Finally, Royal Bank Of Canada upped their target price on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $100.40.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $62.93 on Wednesday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 6.54 and a beta of 0.80. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The firm's 50-day moving average price is $61.51 and its two-hundred day moving average price is $59.32.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. W.P. Carey's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.72%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date is Monday, June 30th. W.P. Carey's dividend payout ratio is presently 183.51%.

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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