VIRGINIA RETIREMENT SYSTEMS ET Al Invests $15.74 Million in W.P. Carey Inc. $WPC

Key Points

• The Virginia Retirement Systems invested approximately $15.74 million in W.P. Carey Inc., acquiring 252,290 shares, representing 0.12% ownership as of their latest SEC filing.
• W.P. Carey recently reported a quarterly earnings per share of $1.28, exceeding expectations, and achieved a 10.5% year-over-year revenue increase.
• The company has increased its quarterly dividend to $0.91 per share, reflecting an annual yield of 5.3% and a high dividend payout ratio of 239.47%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 252,290 shares of the real estate investment trust's stock, valued at approximately $15,738,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.12% of W.P. Carey as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of W.P. Carey during the 1st quarter worth approximately $26,000. TCTC Holdings LLC grew its position in shares of W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after buying an additional 242 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of W.P. Carey during the 1st quarter worth approximately $37,000. V Square Quantitative Management LLC acquired a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $40,000. Finally, REAP Financial Group LLC grew its position in shares of W.P. Carey by 56.4% during the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust's stock worth $41,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $68.47 on Monday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock's fifty day simple moving average is $67.20 and its two-hundred day simple moving average is $63.88. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The stock has a market cap of $14.99 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 9.90 and a beta of 0.81.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating 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 business had revenue of $430.78 million for the quarter, compared to analysts' expectations of $420.99 million. During the same period last year, the business earned $1.17 EPS. The business's revenue 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. As a group, analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were 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 was Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.3%. W.P. Carey's dividend payout ratio (DPR) is 239.47%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WPC shares. Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Scotiabank lifted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. UBS Group lifted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. Evercore ISI lifted their price target on shares of W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.22.

W.P. Carey 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.

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