Prairiewood Capital LLC lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,457 shares of the real estate investment trust's stock after acquiring an additional 6,845 shares during the quarter. W.P. Carey comprises about 2.0% of Prairiewood Capital LLC's investment portfolio, making the stock its 14th biggest holding. Prairiewood Capital LLC's holdings in W.P. Carey were worth $4,888,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service bought a new position in shares of W.P. Carey during the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in W.P. Carey during the fourth quarter worth approximately $37,000. Bessemer Group Inc. boosted its holdings in 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 buying an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in W.P. Carey in the fourth quarter worth approximately $44,000. Finally, Plato Investment Management Ltd bought a new position in shares of W.P. Carey in the fourth quarter valued at $48,000. Institutional investors own 73.73% of the company's stock.
W.P. Carey Trading Down 0.3%
W.P. Carey stock opened at $62.82 on Monday. The company's fifty day simple moving average is $62.09 and its 200-day simple moving average is $59.77. 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 Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a market cap of $13.76 billion, a P/E ratio of 32.38, a P/E/G ratio of 7.00 and a beta of 0.80.
W.P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million during 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 business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. As a group, sell-side analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.
W.P. Carey Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.73%. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's dividend payout ratio is presently 183.51%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective for the company in a research note on Monday, June 9th. Royal Bank Of Canada lifted 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. Barclays set a $61.00 price objective on shares of W.P. Carey and gave the company an "underweight" rating in a research note on Wednesday, May 21st. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company upped their price target on shares of W.P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $100.40.
View Our Latest Stock Report on WPC
About W.P. Carey
(
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.
See Also
Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.P. Carey Inc. (NYSE:WPC - Free Report).
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