Wealthfront Advisers LLC Has $6.24 Million Holdings in W.P. Carey Inc. (NYSE:WPC)

Wealthfront Advisers LLC raised its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 29.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,894 shares of the real estate investment trust's stock after purchasing an additional 22,692 shares during the quarter. Wealthfront Advisers LLC's holdings in W.P. Carey were worth $6,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPC. Norges Bank purchased a new position in W.P. Carey in the fourth quarter valued at about $139,381,000. Demars Financial Group LLC boosted its stake in shares of W.P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock worth $54,387,000 after acquiring an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of W.P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after acquiring an additional 906,622 shares in the last quarter. Northern Trust Corp boosted its stake in shares of W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after acquiring an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of W.P. Carey during the 4th quarter worth about $31,442,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

WPC has been the subject of several recent analyst reports. Evercore ISI upped their price target on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Barclays set a $61.00 price target on W.P. Carey and gave the stock an "underweight" rating in a research note on Wednesday, May 21st. 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. Royal Bank Of Canada upped their price target on W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, UBS Group decreased their price target on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $104.22.

W.P. Carey Stock Performance

Shares of NYSE WPC traded down $0.40 during trading hours on Thursday, hitting $61.37. 1,003,015 shares of the company's stock were exchanged, compared to its average volume of 1,158,826. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 6.08 and a beta of 0.78. The company's 50-day moving average price is $62.40 and its 200-day moving average price is $60.43.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.90 per share. The ex-dividend date was Monday, June 30th. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.87%. W.P. Carey's payout ratio is currently 185.57%.

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.