Strathmore Capital Advisors Inc. Acquires Shares of 4,327 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. acquired a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,327 shares of the real estate investment trust's stock, valued at approximately $267,000.

Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in W.P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after buying an additional 3,747,898 shares during the period. Massachusetts Financial Services Co. MA boosted its position in W.P. Carey by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock valued at $266,224,000 after buying an additional 195,466 shares during the period. Northern Trust Corp boosted its position in W.P. Carey by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock valued at $170,198,000 after buying an additional 55,615 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of W.P. Carey by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust's stock worth $168,018,000 after purchasing an additional 20,495 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of W.P. Carey by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust's stock worth $142,440,000 after purchasing an additional 68,414 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WPC shares. Scotiabank upped their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research report on Friday, September 5th. UBS Group boosted 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. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Barclays boosted their price objective on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Finally, Royal Bank Of Canada upped their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $67.22.

W.P. Carey Stock Performance

Shares of NYSE:WPC traded up $0.00 during midday trading on Monday, reaching $67.17. The company's stock had a trading volume of 828,082 shares, compared to its average volume of 1,162,934. The firm has a market capitalization of $14.71 billion, a PE ratio of 44.19, a P/E/G ratio of 9.78 and a beta of 0.82. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.00. The stock has a fifty day moving average of $65.70 and a 200 day moving average of $63.14. 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 (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm's quarterly revenue 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 analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company 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 represents a $3.64 dividend on an annualized basis and a yield of 5.4%. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, September 30th. 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.