W.P. Carey Inc. $WPC Shares Acquired by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its holdings in W.P. Carey Inc. by 46.3%, owning approximately 823,328 shares valued at around $51.96 million as of the latest SEC filing.
• W.P. Carey reported a 10.5% increase in quarterly revenue year-over-year, reaching $430.78 million, with earnings per share beating analysts' estimates at $1.28.
• Wall Street analysts have a consensus rating of "Hold" for W.P. Carey, with a price target averaging $66.33, indicating mixed investor sentiment despite some upward revisions to price targets.

Advisors Capital Management LLC grew its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 46.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 823,328 shares of the real estate investment trust's stock after acquiring an additional 260,674 shares during the period. Advisors Capital Management LLC owned about 0.38% of W.P. Carey worth $51,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of W.P. Carey by 15.9% in the first quarter. Acadian Asset Management LLC now owns 44,851 shares of the real estate investment trust's stock worth $2,827,000 after acquiring an additional 6,159 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of W.P. Carey by 5.0% in the first quarter. Geneos Wealth Management Inc. now owns 17,987 shares of the real estate investment trust's stock worth $1,135,000 after acquiring an additional 860 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of W.P. Carey by 22.6% in the first quarter. Belpointe Asset Management LLC now owns 23,221 shares of the real estate investment trust's stock worth $1,466,000 after acquiring an additional 4,278 shares in the last quarter. Focus Partners Wealth grew its stake in shares of W.P. Carey by 336.7% in the first quarter. Focus Partners Wealth now owns 64,376 shares of the real estate investment trust's stock worth $4,065,000 after acquiring an additional 49,635 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of W.P. Carey by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust's stock worth $142,440,000 after acquiring an additional 68,414 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WPC. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Scotiabank boosted their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Friday, September 5th. Barclays boosted their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their target price on shares of W.P. Carey from $66.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Finally, BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a "neutral" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.33.

W.P. Carey Price Performance

Shares of WPC opened at $67.55 on Thursday. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $68.28. The stock has a market cap of $14.79 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 9.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a fifty day moving average price of $64.85 and a 200 day moving average price of $62.95.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm had revenue of $430.78 million during the quarter, compared to analysts' expectations of $420.99 million. During the same period in the previous year, the company earned $1.17 earnings per share. W.P. Carey's quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Company 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.

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