Sonora Investment Management Group LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,005 shares of the real estate investment trust's stock after acquiring an additional 19,493 shares during the period. Sonora Investment Management Group LLC owned about 0.08% of W. P. Carey worth $11,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in WPC. Accurate Wealth Management LLC grew its position in W. P. Carey by 11.5% in the first quarter. Accurate Wealth Management LLC now owns 4,766 shares of the real estate investment trust's stock worth $276,000 after acquiring an additional 490 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of W. P. Carey by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock worth $162,000 after purchasing an additional 681 shares during the period. Wealthcare Advisory Partners LLC raised its position in shares of W. P. Carey by 7.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 34,458 shares of the real estate investment trust's stock worth $2,175,000 after acquiring an additional 2,310 shares in the last quarter. Signet Financial Management LLC grew its position in shares of W. P. Carey by 11.0% in the 1st quarter. Signet Financial Management LLC now owns 39,563 shares of the real estate investment trust's stock worth $2,497,000 after buying an additional 3,919 shares during the last quarter. Finally, Octavia Wealth Advisors LLC acquired a new stake in shares of W. P. Carey in the 1st quarter worth $253,000. Institutional investors own 73.73% of the company's stock.
W. P. Carey Stock Performance
W. P. Carey stock traded down $0.11 during mid-day trading on Wednesday, reaching $63.31. The company's stock had a trading volume of 748,431 shares, compared to its average volume of 1,172,744. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $61.01 and a 200-day moving average price of $59.15. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.06 and a beta of 0.80.
W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Sell-side analysts predict that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is 183.51%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on WPC. Barclays set a $61.00 price objective on shares of W. P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. BNP Paribas set a $66.00 price target on shares of W. P. Carey and gave the company a "neutral" rating in a research report on Monday. Finally, Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $100.40.
Check Out Our Latest Stock Analysis on W. P. Carey
About W. P. Carey
(
Free Report)
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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