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 holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,354 shares of the real estate investment trust's stock after purchasing an additional 4,541 shares during the period. W.P. Carey accounts for approximately 3.1% of Seneca House Advisors' holdings, making the stock its 9th largest holding. 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 and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of W.P. Carey in the first quarter valued at approximately $26,000. TCTC Holdings LLC boosted its stake 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 valued at $30,000 after acquiring an additional 242 shares during the last quarter. Cheviot Value Management LLC bought a new position in W.P. Carey in the first quarter valued at approximately $37,000. Fourth Dimension Wealth LLC bought a new position in W.P. Carey in the fourth quarter valued at approximately $44,000. Finally, Summit Securities Group LLC boosted its stake in W.P. Carey by 60.0% in the first quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Performance

Shares of W.P. Carey stock traded down $0.28 during trading on Friday, hitting $67.17. 3,449,779 shares of the stock were exchanged, compared to its average volume of 1,062,748. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 9.78 and a beta of 0.82. The company has a fifty day moving average price of $65.62 and a 200-day moving average price of $63.13. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.00. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC - Get Free Report) last announced 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. The business had revenue of $430.78 million during 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%. W.P. Carey's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is presently 239.47%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Scotiabank raised their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Friday, September 5th. Barclays lifted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Evercore ISI lifted their price target on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. UBS Group lifted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Finally, Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Three research 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 company has a consensus rating of "Hold" and an average target price 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.