Strathmore Capital Advisors Inc. Invests $267,000 in W.P. Carey Inc. $WPC

Key Points

• Strathmore Capital Advisors Inc. invested $267,000 in W.P. Carey Inc., acquiring 4,327 shares during the 2nd quarter.
• W.P. Carey reported quarterly earnings of $1.28 EPS, surpassing analyst estimates of $1.23, with revenues of $430.78 million, up 10.5% from the same quarter last year.
• Analysts have upgraded their ratings for W.P. Carey, with Wells Fargo raising its target price from $68 to $72, while the average target price across evaluations stands at $67.22.

Strathmore Capital Advisors Inc. bought a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,327 shares of the real estate investment trust's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. von Borstel & Associates Inc. acquired a new position in shares of W.P. Carey in the first quarter valued at approximately $26,000. TCTC Holdings LLC lifted its stake in shares of W.P. Carey by 100.8% in the 1st 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 during the 1st quarter worth $37,000. Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey during the 4th quarter worth about $44,000. Finally, Summit Securities Group LLC grew its stake in shares of W.P. Carey by 60.0% in the 1st quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 300 shares during the period. Institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 report on Monday. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Scotiabank upped their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of "Hold" and an average price target of $67.22.

W.P. Carey Stock Performance

W.P. Carey stock traded down $0.28 during mid-day trading on Friday, reaching $67.17. 3,449,779 shares of the company traded hands, compared to its average volume of 1,062,748. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 9.82 and a beta of 0.82. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00. The firm's fifty day moving average is $65.62 and its two-hundred day moving average is $63.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same quarter last year, the business earned $1.17 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is currently 236.84%.

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.