Robeco Institutional Asset Management B.V. lifted its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 74.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 872,496 shares of the real estate investment trust's stock after acquiring an additional 372,433 shares during the period. Robeco Institutional Asset Management B.V. owned 0.40% of W.P. Carey worth $55,063,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in WPC. IAG Wealth Partners LLC boosted its stake in W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after buying an additional 163 shares in the last quarter. DF Dent & Co. Inc. boosted its stake in W.P. Carey by 3.5% in the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after buying an additional 183 shares in the last quarter. HighTower Advisors LLC boosted its stake in W.P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after buying an additional 193 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in W.P. Carey by 5.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust's stock valued at $341,000 after buying an additional 315 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in W.P. Carey by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 44,584 shares of the real estate investment trust's stock valued at $2,429,000 after buying an additional 330 shares in the last quarter. 73.73% of the stock is owned by institutional investors.
Analyst Ratings Changes
WPC has been the topic of a number of recent analyst reports. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research note on Monday, June 9th. Wells Fargo & Company boosted their price objective on W.P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. Scotiabank boosted their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, UBS Group dropped their target price on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, W.P. Carey currently has an average rating of "Hold" and an average price target of $100.40.
View Our Latest Report on WPC
W.P. Carey Trading Down 0.8%
Shares of WPC stock traded down $0.51 on Monday, reaching $62.36. 1,491,901 shares of the stock were exchanged, compared to its average volume of 1,164,851. The stock has a market cap of $13.66 billion, a PE ratio of 32.14, a P/E/G ratio of 7.00 and a beta of 0.80. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a 50 day moving average price of $62.11 and a 200 day moving average price of $59.81.
W.P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates 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%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. Equities research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W.P. Carey Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's dividend payout ratio is currently 183.51%.
W.P. Carey Company Profile
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Free Report)
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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