TruWealth Advisors LLC Increases Stake in W.P. Carey Inc. $WPC

Key Points

• TruWealth Advisors LLC increased its stake in W.P. Carey Inc. by 2.3%, acquiring an additional 5,676 shares, bringing its total ownership to approximately $15.84 million.
• Major institutional investors have also significantly boosted their positions in W.P. Carey, with JPMorgan Chase & Co. increasing its stake by 274.7% last quarter to own over 5 million shares.
• Analysts have mixed views on W.P. Carey, with price targets ranging from $64.00 to $72.00 and an overall average rating of "Hold", indicating a cautious outlook on the stock's performance.

TruWealth Advisors LLC lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,957 shares of the real estate investment trust's stock after acquiring an additional 5,676 shares during the quarter. TruWealth Advisors LLC owned 0.12% of W.P. Carey worth $15,842,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WPC. JPMorgan Chase & Co. increased 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 acquiring an additional 3,747,898 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in W.P. Carey by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust's stock worth $266,224,000 after acquiring an additional 195,466 shares during the last quarter. Northern Trust Corp raised its stake in W.P. Carey by 2.1% during the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust's stock worth $170,198,000 after buying an additional 55,615 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of W.P. Carey by 0.8% during the first 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 acquiring an additional 20,495 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings 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 buying an additional 68,414 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WPC shares. UBS Group lifted their price objective on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Royal Bank Of Canada boosted their target price 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. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research report on Monday, June 9th. Barclays raised their price target on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 20th. Finally, Scotiabank upped 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. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.22.

W.P. Carey Price Performance

NYSE:WPC traded up $0.04 on Friday, reaching $67.49. The stock had a trading volume of 582,082 shares, compared to its average volume of 1,223,023. The company has a market capitalization of $14.78 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 9.89 and a beta of 0.82. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.00. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average price of $65.54 and a 200-day moving average price of $63.13.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data 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 company posted $1.17 earnings per share. The business'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. Research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. 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. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey's dividend payout ratio is 236.84%.

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.