W.P. Carey Inc. $WPC Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its holdings in W.P. Carey Inc. by 5.8%, now owning approximately 311,346 shares valued at $19.42 million as of its recent SEC filing.
• W.P. Carey recently announced a quarterly dividend of $0.91 per share, an increase from the previous $0.90, reflecting an annualized dividend yield of 5.3%.
• Several research firms upgraded W.P. Carey’s rating, with Wells Fargo raising its price objective from $68.00 to $72.00, indicating positive analyst sentiment towards the stock.

Allianz Asset Management GmbH lifted its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,346 shares of the real estate investment trust's stock after buying an additional 17,097 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.14% of W.P. Carey worth $19,422,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WPC. GAMMA Investing LLC raised its stake in shares of W.P. Carey by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock worth $162,000 after buying an additional 681 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of W.P. Carey by 3.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,509 shares of the real estate investment trust's stock worth $13,096,000 after buying an additional 6,000 shares during the period. PFG Investments LLC raised its stake in shares of W.P. Carey by 28.3% during the 1st quarter. PFG Investments LLC now owns 15,926 shares of the real estate investment trust's stock worth $1,005,000 after buying an additional 3,514 shares during the period. Kentucky Retirement Systems acquired a new position in shares of W.P. Carey during the 1st quarter worth approximately $933,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in W.P. Carey in the 1st quarter valued at $398,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on WPC. Wells Fargo & Company raised W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Evercore ISI increased their price objective on W.P. Carey from $66.00 to $70.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. Weiss Ratings reissued a "hold (c)" rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Barclays increased their price objective on W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $67.22.

W.P. Carey Stock Up 0.4%

Shares of NYSE:WPC opened at $68.47 on Monday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $67.20 and a two-hundred day moving average of $63.88. The stock has a market cap of $14.99 billion, a P/E ratio of 45.04, a PEG ratio of 9.90 and a beta of 0.81. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79.

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

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, September 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

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.

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