W.P. Carey Inc. (NYSE:WPC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 691,083 shares of the real estate investment trust's stock after purchasing an additional 27,766 shares during the period. Victory Capital Management Inc. owned about 0.32% of W.P. Carey worth $43,614,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in W.P. Carey in the first quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth $37,000. Bessemer Group Inc. lifted its holdings in shares of W.P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 402 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth $44,000. Finally, Hoey Investments Inc. acquired a new stake in shares of W.P. Carey during the fourth quarter worth $48,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WPC. Barclays set a $61.00 target price on W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. UBS Group dropped their price objective on W.P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. BNP Paribas Exane upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a report on Monday, June 9th. Finally, Evercore ISI boosted their target price on W.P. Carey from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $104.22.

W.P. Carey Stock Up 0.6%

Shares of WPC traded up $0.37 during trading on Friday, reaching $61.66. The company's stock had a trading volume of 892,437 shares, compared to its average volume of 1,158,804. The company has a fifty day moving average of $62.40 and a two-hundred day moving average of $60.52. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 6.07 and a beta of 0.78. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. During the same quarter last year, the firm posted $1.14 earnings per share. W.P. Carey's revenue was up 5.3% compared to the same quarter last year. On average, 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.90 dividend. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date was Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.84%. W.P. Carey's dividend payout ratio is presently 185.57%.

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.