W.P. Carey Inc. $WPC Shares Acquired by Seneca House Advisors

Key Points

• Seneca House Advisors increased its stake in W.P. Carey Inc. by 4.0% during the second quarter, owning a total of 118,354 shares worth approximately $7.38 million.
• Several institutional investors, including IAG Wealth Partners and SouthState Corp, have also made adjustments to their holdings, contributing to a total institutional ownership of 73.73% in W.P. Carey.
• W.P. Carey reported earnings of $1.28 per share for the last quarter, exceeding analysts' expectations, and set its FY 2025 guidance at 4.870-4.950 EPS.

Seneca House Advisors boosted its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,354 shares of the real estate investment trust's stock after purchasing an additional 4,541 shares during the quarter. W.P. Carey comprises 3.1% of Seneca House Advisors' holdings, making the stock its 9th biggest position. Seneca House Advisors owned approximately 0.05% of W.P. Carey worth $7,383,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. Pacer Advisors Inc. raised its position in shares of 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 in the last quarter. Nuveen LLC bought a new stake in shares of W.P. Carey during the 1st quarter worth about $30,194,000. Private Management Group Inc. bought a new stake in shares of W.P. Carey during the 1st quarter worth about $29,923,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of W.P. Carey by 74.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 872,496 shares of the real estate investment trust's stock worth $55,063,000 after buying an additional 372,433 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Trading Down 0.6%

Shares of W.P. Carey stock traded down $0.43 during trading on Thursday, hitting $67.51. The stock had a trading volume of 770,294 shares, compared to its average volume of 1,057,091. The stock has a 50 day simple moving average of $65.54 and a 200 day simple moving average of $63.13. The company has a market capitalization of $14.78 billion, a PE ratio of 44.41, a P/E/G ratio of 9.89 and a beta of 0.82. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.00.

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

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. W.P. Carey's dividend payout ratio (DPR) is currently 236.84%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent research reports. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock 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 price objective on the stock in a research note on Monday, June 9th. UBS Group lifted their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Evercore ISI lifted their price objective on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a research note on Monday. Finally, Royal Bank Of Canada lifted their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $67.22.

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.