Prairiewood Capital LLC Increases Stake in W.P. Carey Inc. (NYSE:WPC)

Prairiewood Capital LLC grew its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 accounts for about 2.0% of Prairiewood Capital LLC's holdings, making the stock its 14th largest position. Prairiewood Capital LLC's holdings in W.P. Carey were worth $4,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. National Pension Service acquired a new stake in W.P. Carey during the 4th quarter valued at $25,000. Millstone Evans Group LLC bought a new stake in shares of W.P. Carey during the fourth quarter valued at approximately $37,000. Bessemer Group Inc. increased its holdings in shares of W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in W.P. Carey in the 4th quarter worth approximately $44,000. Finally, Plato Investment Management Ltd acquired a new position in shares of W.P. Carey during the fourth quarter valued at $48,000. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Stock Down 0.5%

W.P. Carey stock traded down $0.33 during midday trading on Thursday, reaching $63.00. The stock had a trading volume of 441,062 shares, compared to its average volume of 1,167,456. The company has a market capitalization of $13.79 billion, a P/E ratio of 32.47, a PEG ratio of 7.05 and a beta of 0.78. The company has a current ratio of 0.23, a quick 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 company has a fifty day moving average price of $62.17 and a two-hundred day moving average price of $59.86.

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 company 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a dividend yield of 5.71%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. W.P. Carey's payout ratio is currently 185.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WPC. Royal Bank Of Canada lifted their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Barclays set a $61.00 target price on shares of W.P. Carey and gave the stock an "underweight" rating in a report on Wednesday, May 21st. Scotiabank boosted their price objective on W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, UBS Group lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $100.60.

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.