Swedbank AB Raises Stock Position in W.P. Carey Inc. $WPC

Key Points

• Swedbank AB increased its position in W.P. Carey Inc. by 52.6% in Q2, owning 48,775 shares valued at approximately $3.04 million.
• W.P. Carey has seen several investment firms adjusting their price targets, with Royal Bank Of Canada increasing their target to $67.00 and other firms also showing positive ratings for the stock.
• The company recently declared a quarterly dividend of $0.91, raising it from the previous $0.90, which translates to an annualized yield of 5.4%.

Swedbank AB increased its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 52.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,775 shares of the real estate investment trust's stock after acquiring an additional 16,816 shares during the quarter. Swedbank AB's holdings in W.P. Carey were worth $3,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in shares of W.P. Carey in the first quarter valued at $26,000. TCTC Holdings LLC lifted its stake in shares of 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 buying an additional 242 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of W.P. Carey in the first quarter valued at $37,000. Fourth Dimension Wealth LLC bought a new position in shares of W.P. Carey in the fourth quarter valued at $44,000. Finally, Summit Securities Group LLC lifted its stake in shares of 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 buying an additional 300 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Price Performance

Shares of WPC stock traded up $0.00 during trading hours on Monday, reaching $67.17. The stock had a trading volume of 828,082 shares, compared to its average volume of 1,162,934. The stock's fifty day simple moving average is $65.70 and its 200 day simple moving average is $63.14. 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 Inc. has a 12 month low of $52.91 and a 12 month high of $69.00. The firm has a market capitalization of $14.71 billion, a PE ratio of 44.19, a PEG ratio of 9.78 and a beta of 0.82.

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 during the quarter, compared to analyst estimates of $420.99 million. During the same period in the previous year, the business posted $1.17 earnings per share. W.P. Carey's revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is presently 236.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WPC shares. 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 note on Thursday, July 31st. Evercore ISI increased their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Scotiabank increased their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Friday, September 5th. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a report on Monday, June 9th. Finally, Barclays increased their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.