KLP Kapitalforvaltning AS Grows Holdings in W.P. Carey Inc. (NYSE:WPC)

KLP Kapitalforvaltning AS boosted its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 140.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,500 shares of the real estate investment trust's stock after purchasing an additional 159,200 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.12% of W.P. Carey worth $17,404,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. IAG Wealth Partners LLC grew its position in shares of W.P. Carey by 7.0% during the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after acquiring an additional 163 shares during the period. GF Fund Management CO. LTD. grew its position in shares of W.P. Carey by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock valued at $262,000 after acquiring an additional 168 shares during the period. DF Dent & Co. Inc. grew its position in shares of W.P. Carey by 3.5% during the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after acquiring an additional 183 shares during the period. Crestwood Advisors Group LLC grew its position in shares of W.P. Carey by 2.8% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock valued at $434,000 after acquiring an additional 185 shares during the period. Finally, World Investment Advisors grew its position in shares of W.P. Carey by 4.3% during the 1st quarter. World Investment Advisors now owns 6,909 shares of the real estate investment trust's stock valued at $436,000 after acquiring an additional 284 shares during the period. Institutional investors own 73.73% of the company's stock.

W.P. Carey Price Performance

WPC stock traded up $0.17 during mid-day trading on Friday, hitting $64.61. The company had a trading volume of 1,113,472 shares, compared to its average volume of 1,223,595. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 33.31, a P/E/G ratio of 6.25 and a beta of 0.78. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $62.62 and a 200 day moving average price of $60.72.

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 the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. On average, research analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 5.57%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's dividend payout ratio is currently 185.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of W.P. Carey from $66.00 to $63.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Evercore ISI lifted their target price on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, BNP Paribas Exane upgraded 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 research note on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, W.P. Carey currently has a consensus rating of "Hold" and a consensus target price of $104.22.

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.