W.P. Carey Inc. $WPC Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in W.P. Carey Inc. by 5.5% during Q2, now holding 824,734 shares valued at $51.4 million.
• W.P. Carey reported $1.28 EPS for Q2, exceeding analysts' estimates of $1.23, with revenue increasing 10.5% year-over-year.
• The company announced a quarterly dividend increase to $0.91, representing a 5.3% yield and a payout ratio of 239.47% as of the last quarter.

Robeco Institutional Asset Management B.V. lowered its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,734 shares of the real estate investment trust's stock after selling 47,762 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.38% of W.P. Carey worth $51,447,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. lifted its holdings in W.P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust's stock worth $322,630,000 after buying an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in W.P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust's stock worth $110,564,000 after buying an additional 1,595,045 shares in the last quarter. Nuveen LLC acquired a new position in W.P. Carey in the 1st quarter worth $30,194,000. Private Management Group Inc. acquired a new position in W.P. Carey in the 1st quarter worth $29,923,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of W.P. Carey in the 2nd quarter valued at about $24,030,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Price Performance

WPC opened at $68.45 on Friday. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 9.97 and a beta of 0.81. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00. The company's 50-day moving average price is $66.57 and its 200 day moving average price is $63.42. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $420.99 million. During the same quarter in the prior year, the business earned $1.17 earnings per share. W.P. Carey's quarterly 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.91 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.3%. W.P. Carey's payout ratio is currently 239.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped 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. Wells Fargo & Company upgraded shares of W.P. Carey from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. UBS Group upped 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. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, Royal Bank Of Canada upped their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three equities 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 stock. According to MarketBeat, W.P. Carey has an average rating of "Hold" and a consensus 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.

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