Wealth Enhancement Advisory Services LLC grew its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,494 shares of the real estate investment trust's stock after purchasing an additional 3,985 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.10% of W.P. Carey worth $13,373,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. bought a new position in W.P. Carey in the first quarter valued at $26,000. TCTC Holdings LLC boosted its stake 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 last quarter. Cheviot Value Management LLC bought a new position in shares of W.P. Carey in the 1st quarter valued at about $37,000. Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey in the fourth quarter valued at about $44,000. Finally, Summit Securities Group LLC raised its holdings in W.P. Carey by 60.0% during the first quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 73.73% of the company's stock.
W.P. Carey Price Performance
W.P. Carey stock traded up $0.00 during mid-day trading on Monday, reaching $67.17. 828,082 shares of the company were exchanged, compared to its average volume of 1,162,934. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.00. The company has a fifty day simple moving average of $65.70 and a 200-day simple moving average of $63.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $14.71 billion, a PE ratio of 44.19, a PEG ratio of 9.78 and a beta of 0.82.
W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.
W.P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 5.4%. W.P. Carey's payout ratio is presently 236.84%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on WPC shares. Royal Bank Of Canada raised 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. UBS Group boosted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a report on Friday, August 15th. Barclays increased their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note 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 target price on the stock in a report on Monday, June 9th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $67.22.
Check Out Our Latest Stock Analysis on W.P. Carey
W.P. Carey Profile
(
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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