Strs Ohio Takes Position in W.P. Carey Inc. $WPC

Key Points

• Strs Ohio has made a new investment in W.P. Carey Inc., acquiring 119,808 shares valued at approximately $7.56 million.
• Institutional investors own around 73.73% of W.P. Carey's stock, with several others increasing their stakes during the first quarter of the year.
• W.P. Carey reported a quarterly EPS of $1.28, surpassing estimates, and their revenue increased by 10.5% year-over-year.

Strs Ohio purchased a new position in W.P. Carey Inc. (NYSE:WPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 119,808 shares of the real estate investment trust's stock, valued at approximately $7,561,000. Strs Ohio owned about 0.05% of W.P. Carey as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. IAG Wealth Partners LLC boosted its position in shares of 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 worth $157,000 after purchasing an additional 163 shares during the last quarter. GF Fund Management CO. LTD. boosted its position in shares of W.P. Carey by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock worth $262,000 after purchasing an additional 168 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in shares of W.P. Carey by 2.8% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock worth $434,000 after purchasing an additional 185 shares during the last quarter. SouthState Corp boosted its position in shares of W.P. Carey by 15.7% in the 1st quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 195 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of W.P. Carey by 1.0% in the 1st quarter. AlphaQuest LLC now owns 21,684 shares of the real estate investment trust's stock worth $1,368,000 after purchasing an additional 217 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Stock Down 0.4%

Shares of W.P. Carey stock traded down $0.28 during trading on Friday, reaching $67.17. The stock had a trading volume of 3,449,779 shares, 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 P/E/G ratio of 9.82 and a beta of 0.82. The stock has a fifty day moving average price of $65.62 and a two-hundred day moving average price of $63.14. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week 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 released its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 4.00% and a net margin of 20.42%.W.P. Carey's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Sell-side 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 paid a $0.91 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. W.P. Carey's dividend payout ratio is currently 236.84%.

Analysts Set New Price Targets

A number of research firms have issued reports on WPC. Royal Bank Of Canada boosted their target price on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Scotiabank boosted their target price on 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. BNP Paribas set a $66.00 target price on W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. UBS Group increased their target price on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and a consensus price target of $67.22.

W.P. Carey Company Profile

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.