Truist Financial Corp Has $10.28 Million Holdings in W.P. Carey Inc. $WPC

Key Points

• Truist Financial Corp reduced its holdings in W.P. Carey Inc. by 2.4%, now owning approximately 0.08% of the company, worth around $10.28 million.
• W.P. Carey reported an EPS of $1.28 for the last quarter, exceeding analysts' expectations, with a revenue of $430.78 million, marking a 10.5% year-over-year increase.
• The company recently announced a quarterly dividend increase to $0.91, with a current dividend yield of 5.3%, reflecting solid shareholder returns.

Truist Financial Corp cut its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,739 shares of the real estate investment trust's stock after selling 4,018 shares during the period. Truist Financial Corp owned approximately 0.08% of W.P. Carey worth $10,276,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of W.P. Carey in the first quarter valued at about $26,000. TCTC Holdings LLC grew 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 acquiring an additional 242 shares in the last quarter. Cheviot Value Management LLC acquired a new position in shares of W.P. Carey in the first quarter valued at about $37,000. V Square Quantitative Management LLC acquired a new position in shares of W.P. Carey in the second quarter valued at about $40,000. Finally, Summit Securities Group LLC grew 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 acquiring an additional 300 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Up 1.0%

WPC stock opened at $69.15 on Monday. The stock has a market capitalization of $15.14 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 10.07 and a beta of 0.81. 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 $69.79. The firm has a 50-day moving average price of $66.66 and a 200-day moving average price of $63.50.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities research analysts anticipate that W.P. Carey Inc. will post 4.87 EPS 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. Stockholders of record on Tuesday, September 30th will be paid a $0.91 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 30th. W.P. Carey's payout ratio is currently 239.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays upped 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 report on Wednesday, August 20th. BNP Paribas Exane raised 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 report on Monday, June 9th. Royal Bank Of Canada upped their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, 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 research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, W.P. Carey presently has a consensus rating of "Hold" and a consensus price target 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.

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