Geneos Wealth Management Inc. Buys 17,565 Shares of W.P. Carey Inc. (NYSE:WPC)

Geneos Wealth Management Inc. grew its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 102.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 34,692 shares of the real estate investment trust's stock after acquiring an additional 17,565 shares during the quarter. Geneos Wealth Management Inc.'s holdings in W.P. Carey were worth $2,189,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WPC. Pacer Advisors Inc. lifted its position in shares of W.P. Carey by 1,016.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock valued at $110,564,000 after acquiring an additional 1,595,045 shares during the period. Demars Financial Group LLC lifted its position 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 valued at $54,387,000 after acquiring an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 valued at $219,170,000 after acquiring an additional 906,622 shares during the period. Northern Trust Corp lifted its position 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 valued at $143,894,000 after acquiring an additional 758,627 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of W.P. Carey during the 4th quarter valued at $31,442,000. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Price Performance

WPC traded up $0.73 on Friday, reaching $64.89. The stock had a trading volume of 1,472,433 shares, compared to its average volume of 1,251,977. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.64. The firm has a 50-day moving average of $63.01 and a 200-day moving average of $61.13. The company has a current ratio of 0.19, a quick ratio of 0.23 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 6.30 and a beta of 0.78.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $420.99 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The business 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.5%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. W.P. Carey's dividend payout ratio is 236.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a "neutral" rating in a report on Monday, June 9th. Royal Bank Of Canada boosted their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday. Barclays set a $61.00 price target on W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. UBS Group lowered their price target on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target for the company in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.00.

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.