Quarry LP Acquires 5,323 Shares of W.P. Carey Inc. $WPC

Key Points

• Quarry LP increased its stake in W.P. Carey Inc. by 576.1%, acquiring an additional 5,323 shares in the first quarter, bringing its total holdings to 6,247 shares valued at $394,000.
• W.P. Carey reported a 10.5% year-over-year revenue increase, with $430.78 million in revenue and earnings per share of $1.28, exceeding analyst estimates.
• The company announced a quarterly dividend increase to $0.90 per share, leading to an annualized yield of 5.4%, reflecting a dividend payout ratio of 236.84%.

Quarry LP lifted its holdings in W.P. Carey Inc. (NYSE:WPC - Free Report) by 576.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,247 shares of the real estate investment trust's stock after purchasing an additional 5,323 shares during the period. Quarry LP's holdings in W.P. Carey were worth $394,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of W.P. Carey by 13.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust's stock worth $758,000 after purchasing an additional 1,442 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust's stock valued at $38,272,000 after acquiring an additional 26,665 shares during the period. Capital Advisors Inc. OK acquired a new stake in shares of W.P. Carey during the first quarter valued at approximately $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of W.P. Carey by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust's stock valued at $119,235,000 after acquiring an additional 134,523 shares during the period. Finally, Ethos Financial Group LLC acquired a new stake in shares of W.P. Carey during the first quarter valued at approximately $372,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Up 0.3%

WPC traded up $0.20 on Thursday, reaching $66.94. 915,763 shares of the company traded hands, compared to its average volume of 1,236,708. The stock's 50 day moving average price is $64.39 and its 200-day moving average price is $62.71. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $67.64. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 9.80 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.

W.P. Carey (NYSE:WPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS 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 for the quarter, compared to the consensus estimate of $420.99 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm'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. On average, sell-side analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.90 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey's payout ratio is presently 236.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WPC shares. Wells Fargo & Company boosted their price target on shares of W.P. Carey from $66.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Evercore ISI boosted their price target on shares of W.P. Carey from $65.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a report on Monday, June 9th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the company a "neutral" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $65.89.

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.