W.P. Carey Inc. $WPC Shares Bought by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. increased its stake in W.P. Carey Inc. by 3.9% during the second quarter, owning 137,483 shares valued at approximately $8.58 million.
• W.P. Carey reported $1.28 EPS for the last quarter, exceeding analysts' expectations, with year-over-year revenue growth of 10.5%.
• The company recently declared a quarterly dividend of $0.91 per share, an increase from the previous dividend of $0.90, resulting in a 5.4% dividend yield.

Cullen Frost Bankers Inc. boosted its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,483 shares of the real estate investment trust's stock after buying an additional 5,150 shares during the period. Cullen Frost Bankers Inc. owned 0.06% of W.P. Carey worth $8,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its stake in W.P. Carey by 33.6% during the second quarter. Whittier Trust Co. now owns 1,470 shares of the real estate investment trust's stock worth $92,000 after buying an additional 370 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in W.P. Carey by 0.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 143,926 shares of the real estate investment trust's stock worth $9,076,000 after buying an additional 1,277 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in W.P. Carey by 7.7% during the second quarter. Chicago Partners Investment Group LLC now owns 3,737 shares of the real estate investment trust's stock worth $237,000 after buying an additional 268 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of W.P. Carey by 17.9% in the 2nd quarter. International Assets Investment Management LLC now owns 6,666 shares of the real estate investment trust's stock valued at $416,000 after purchasing an additional 1,012 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $15,738,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Price Performance

WPC opened at $67.62 on Thursday. The stock's 50-day moving average price is $67.34 and its 200 day moving average price is $64.00. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.79. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 9.77 and a beta of 0.81.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $420.99 million. During the same quarter in the prior year, the company earned $1.17 EPS. 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. As a group, sell-side analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.91 per share. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey's dividend payout ratio (DPR) is currently 239.47%.

Analyst Ratings Changes

WPC has been the topic of several recent analyst reports. Evercore ISI upped their price target 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. Royal Bank Of Canada upped their price target on W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group lifted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a report on Friday, August 15th. Barclays lifted their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the company an "underweight" rating in a report on Monday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of W.P. Carey in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and an average price target 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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