Resona Asset Management Co. Ltd. Grows Stock Position in W.P. Carey Inc. (NYSE:WPC)

Resona Asset Management Co. Ltd. boosted its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,356 shares of the real estate investment trust's stock after buying an additional 9,794 shares during the quarter. Resona Asset Management Co. Ltd. owned approximately 0.06% of W.P. Carey worth $8,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in W.P. Carey in the first quarter worth $26,000. TCTC Holdings LLC increased its position in W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after buying an additional 242 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in W.P. Carey in the first quarter worth $37,000. Bessemer Group Inc. increased its position in W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after buying an additional 402 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in W.P. Carey in the fourth quarter worth $44,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Price Performance

W.P. Carey stock opened at $65.19 on Friday. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.64. The business has a 50-day simple moving average of $63.60 and a 200 day simple moving average of $61.75. 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 stock has a market cap of $14.28 billion, a price-to-earnings ratio of 42.89, a PEG ratio of 9.60 and a beta of 0.78.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period in the previous year, the business earned $1.17 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. On average, research 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 company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.5%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's dividend payout ratio is presently 236.84%.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. UBS Group reduced their price target on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Barclays set a $61.00 price target on W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Evercore ISI lifted their price target on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Finally, BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, W.P. Carey has a consensus rating of "Hold" and an average target price of $65.00.

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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