W.P. Carey Inc. $WPC Shares Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in W.P. Carey Inc. by 5.5% during the second quarter, acquiring a total of 463,714 shares valued at approximately $28.9 million.
• W.P. Carey reported strong quarterly earnings of $1.28 per share, exceeding analysts' expectations of $1.23, and its revenue grew by 10.5% year-over-year.
• The firm announced a quarterly dividend increase to $0.91 per share, up from the previous $0.90, reflecting an annualized dividend yield of 5.5%.

Asset Management One Co. Ltd. grew its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,714 shares of the real estate investment trust's stock after purchasing an additional 24,368 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.21% of W.P. Carey worth $28,926,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WPC. JPMorgan Chase & Co. boosted its position in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock worth $322,630,000 after acquiring an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. boosted its position in W.P. Carey by 1,016.8% during the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after acquiring an additional 1,595,045 shares during the last quarter. Nuveen LLC acquired a new stake in W.P. Carey during the first quarter worth approximately $30,194,000. Private Management Group Inc. acquired a new stake in W.P. Carey during the first quarter worth approximately $29,923,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in W.P. Carey during the second quarter worth approximately $24,030,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

NYSE:WPC opened at $66.76 on Friday. 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 company has a market cap of $14.62 billion, a P/E ratio of 43.92, a P/E/G ratio of 9.82 and a beta of 0.81. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The firm's 50 day moving average is $67.43 and its two-hundred day moving average is $64.15.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping 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 company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the firm posted $1.17 earnings per share. W.P. Carey's revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.91 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is 239.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WPC. UBS Group raised their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Friday, August 15th. Barclays raised their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an "underweight" rating in a research report on Monday. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Evercore ISI raised their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Finally, Scotiabank raised 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 report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $67.44.

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.

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