W.P. Carey Inc. $WPC Shares Acquired by Sonora Investment Management Group LLC

Key Points

• Sonora Investment Management Group LLC increased its stake in W.P. Carey Inc. by 2.7%, now owning about 0.08% of the company, valued at approximately $11.4 million.
• W.P. Carey has announced a quarterly dividend of $0.91, increasing from the previous $0.90, reflecting an annualized yield of 5.3%.
• Multiple analysts have revised their price targets for W.P. Carey, with a consensus target price of $67.22 and a current market rating of "Hold".

Sonora Investment Management Group LLC grew its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,822 shares of the real estate investment trust's stock after acquiring an additional 4,817 shares during the quarter. Sonora Investment Management Group LLC owned about 0.08% of W.P. Carey worth $11,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in W.P. Carey in the 1st quarter valued at about $26,000. TCTC Holdings LLC boosted its position in shares of W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 242 shares during the last quarter. Cheviot Value Management LLC purchased a new stake in W.P. Carey in the first quarter valued at approximately $37,000. Summit Securities Group LLC increased its position in W.P. Carey by 60.0% during the first quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 300 shares during the last quarter. Finally, National Pension Service raised its stake in W.P. Carey by 74.6% during the first quarter. National Pension Service now owns 812 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WPC. Evercore ISI lifted 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. Barclays raised their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an "underweight" rating in a report on Wednesday, August 20th. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. UBS Group raised their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Finally, BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price on the stock in a report on Monday, June 9th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, W.P. Carey currently has a consensus rating of "Hold" and a consensus target price of $67.22.

W.P. Carey Trading Up 1.6%

WPC opened at $68.48 on Friday. The stock has a market capitalization of $15.00 billion, a PE ratio of 45.05, a P/E/G ratio of 9.96 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 Inc. has a 12-month low of $52.91 and a 12-month high of $69.00. The firm's fifty day moving average price is $66.19 and its 200 day moving average price is $63.27.

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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. The business had revenue of $430.78 million for the quarter, compared to analyst estimates 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 was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is currently 236.84%.

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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