TruWealth Advisors LLC Buys 5,676 Shares of 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 boosted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,957 shares of the real estate investment trust's stock after purchasing an additional 5,676 shares during the quarter. TruWealth Advisors LLC owned about 0.12% of W.P. Carey worth $15,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional 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% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock valued at $322,630,000 after purchasing an additional 3,747,898 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in W.P. Carey by 4.9% during the first 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 purchasing an additional 195,466 shares in the last quarter. Northern Trust Corp boosted its position 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 valued at $170,198,000 after purchasing an additional 55,615 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 valued at $168,018,000 after purchasing an additional 20,495 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in W.P. Carey by 3.1% during the first 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 valued at $142,440,000 after purchasing an additional 68,414 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WPC. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Royal Bank Of Canada increased their price target 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. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a research note on Monday, June 9th. Barclays increased their price target on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company upgraded W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $68.00 to $72.00 in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $66.78.

W.P. Carey Trading Up 0.3%

Shares of NYSE:WPC opened at $68.69 on Friday. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $68.98. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 9.97 and a beta of 0.82. 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 business has a 50-day moving average price of $65.08 and a 200-day moving average price of $63.01.

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 the consensus estimate of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period last year, the business posted $1.17 earnings per share. The company's revenue for the quarter 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. Equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.