Voya Investment Management LLC Boosts Stock Position in W.P. Carey Inc. $WPC

Key Points

• Voya Investment Management LLC increased its stake in W.P. Carey Inc. by 29.8%, owning 36,294 shares worth approximately $2.29 million.
• W.P. Carey reported a quarterly earnings per share (EPS) of $1.28, exceeding analysts' expectations of $1.23, with a 10.5% revenue increase year-over-year.
• The company has announced a dividend increase to $0.91 per share, with an annualized yield of 5.4%, set to be paid on October 15th.

Voya Investment Management LLC raised its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 29.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,294 shares of the real estate investment trust's stock after buying an additional 8,339 shares during the quarter. Voya Investment Management LLC's holdings in W.P. Carey were worth $2,291,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WPC. von Borstel & Associates Inc. bought a new stake in shares of W.P. Carey during the 1st quarter valued at approximately $26,000. TCTC Holdings LLC lifted its position in shares of W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 242 shares during the period. Cheviot Value Management LLC acquired a new position in shares of W.P. Carey during the 1st quarter valued at $37,000. Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey in the 4th quarter valued at $44,000. Finally, Summit Securities Group LLC grew its holdings in shares of 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 valued at $50,000 after buying an additional 300 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Stock Up 0.0%

Shares of WPC traded up $0.00 during trading hours on Monday, hitting $67.17. The company had a trading volume of 828,082 shares, compared to its average volume of 1,162,934. The firm has a fifty day moving average price of $65.70 and a 200-day moving average price of $63.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 44.19, a P/E/G ratio of 9.78 and a beta of 0.82. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.00.

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, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the previous year, the firm earned $1.17 EPS. W.P. Carey's quarterly revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. This is a boost from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. W.P. Carey's dividend payout ratio is presently 236.84%.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent research reports. Scotiabank upped their price target on W.P. Carey from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Friday, September 5th. UBS Group increased their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research report on Friday, August 15th. BNP Paribas Exane upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 target price for the company in a research report on Monday, June 9th. Wells Fargo & Company raised shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Evercore ISI raised their target price on shares of 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. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $67.22.

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.