W.P. Carey Inc. $WPC Stake Cut by Dupree Financial Group LLC

Key Points

• Dupree Financial Group LLC has reduced its holdings in W.P. Carey Inc. by 18.0% in the second quarter, now owning 83,456 shares valued at approximately $5.2 million.
• W.P. Carey has declared a quarterly dividend of $0.91 per share, up from $0.90, which represents a 5.3% yield based on an annualized payment of $3.64.
• The company reported earnings per share of $1.28 for the last quarter, exceeding analysts' expectations of $1.23 and marking a 10.5% year-over-year revenue growth to $430.78 million.

Dupree Financial Group LLC cut its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 18.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,456 shares of the real estate investment trust's stock after selling 18,367 shares during the quarter. W.P. Carey accounts for about 2.1% of Dupree Financial Group LLC's investment portfolio, making the stock its 22nd largest holding. Dupree Financial Group LLC's holdings in W.P. Carey were worth $5,206,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WPC. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $758,000 after buying an additional 1,442 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of W.P. Carey by 4.6% during the 1st 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 in the last quarter. Capital Advisors Inc. OK acquired a new position in shares of W.P. Carey in the first quarter worth $345,000. Ethos Financial Group LLC acquired a new position in shares of W.P. Carey in the first quarter worth $372,000. Finally, GAMMA Investing LLC raised its holdings in shares of W.P. Carey by 36.1% during the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust's stock worth $162,000 after acquiring an additional 681 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Trading Up 0.3%

Shares of WPC stock opened at $68.67 on Tuesday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79. The company has a market cap of $15.04 billion, a PE ratio of 45.17, a price-to-earnings-growth ratio of 9.90 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The business's 50 day moving average is $67.27 and its two-hundred day moving average is $63.95.

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 earnings per share (EPS) 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 business had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the company posted $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. Equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.90. W.P. Carey's payout ratio is 239.47%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WPC. UBS Group boosted their target price on W.P. Carey from $63.00 to $66.00 and gave the company a "neutral" rating in a research note on Friday, August 15th. Weiss Ratings reissued a "hold (c)" rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Scotiabank increased their price objective 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. Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays boosted their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an "underweight" rating in a research report on Monday. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $67.44.

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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