W.P. Carey Inc. $WPC Shares Acquired by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its stake in W.P. Carey Inc. by 22.6% in the first quarter, owning a total of 23,221 shares valued at approximately $1.47 million.
• Multiple analysts have recently upgraded their ratings for W.P. Carey, with a consensus price target set at $66.78, indicating a mixed outlook among ratings with three 'Buy', six 'Hold', and one 'Sell' recommendation.
• W.P. Carey reported earnings of $1.28 per share for the last quarter, exceeding analysts' expectations, with revenue of $430.78 million, reflecting a 10.5% increase from the previous year.

Belpointe Asset Management LLC lifted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,221 shares of the real estate investment trust's stock after purchasing an additional 4,278 shares during the period. Belpointe Asset Management LLC's holdings in W.P. Carey were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. IAG Wealth Partners LLC increased its stake in shares of W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust's stock valued at $157,000 after purchasing an additional 163 shares in the last quarter. GF Fund Management CO. LTD. increased its stake in shares of W.P. Carey by 4.2% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust's stock valued at $262,000 after purchasing an additional 168 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of W.P. Carey by 2.8% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust's stock valued at $434,000 after purchasing an additional 185 shares in the last quarter. SouthState Corp increased its stake in shares of W.P. Carey by 15.7% in the 1st quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 195 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in shares of W.P. Carey by 1.0% in the 1st quarter. AlphaQuest LLC now owns 21,684 shares of the real estate investment trust's stock valued at $1,368,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI lifted their price target on W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. BNP Paribas Exane upgraded 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 boosted their price objective on W.P. Carey from $66.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Barclays boosted their price objective on W.P. Carey from $61.00 to $64.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Finally, UBS Group boosted their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a "neutral" rating in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $66.78.

W.P. Carey Trading Up 1.5%

Shares of W.P. Carey stock opened at $68.47 on Friday. The stock has a market cap of $14.99 billion, a P/E ratio of 45.05, a P/E/G ratio of 9.82 and a beta of 0.82. The stock's 50 day simple moving average is $64.96 and its 200-day simple moving average is $62.99. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19.

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 for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $430.78 million for 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 business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

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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