W.P. Carey Inc. $WPC Position Trimmed by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in W.P. Carey Inc. (NYSE:WPC) by 10.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,705 shares of the real estate investment trust’s stock after selling 449 shares during the period. Parallel Advisors LLC’s holdings in W.P. Carey were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WPC. JPMorgan Chase & Co. increased its holdings in shares of W.P. Carey by 274.7% during 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 purchasing an additional 3,747,898 shares during the period. Pacer Advisors Inc. increased its stake in W.P. Carey by 1,016.8% in the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock valued at $110,564,000 after purchasing an additional 1,595,045 shares in the last quarter. Nuveen LLC acquired a new position in W.P. Carey during the first quarter worth $30,194,000. Private Management Group Inc. acquired a new stake in W.P. Carey in the first quarter valued at $29,923,000. Finally, Robeco Institutional Asset Management B.V. increased its position in W.P. Carey by 74.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 872,496 shares of the real estate investment trust’s stock worth $55,063,000 after acquiring an additional 372,433 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Stock Down 0.4%

WPC opened at $67.17 on Monday. The company has a market cap of $14.71 billion, a PE ratio of 44.19, a P/E/G ratio of 9.78 and a beta of 0.82. The business has a 50 day moving average price of $65.62 and a two-hundred day moving average price of $63.12. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.00. 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) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 posted $1.17 EPS. The business’s revenue for the quarter 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. As a group, research analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WPC. Evercore ISI boosted their price target on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. UBS Group upped their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Scotiabank increased their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. Royal Bank Of Canada increased their price objective on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. 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 company. According to data from MarketBeat, the stock currently has a consensus 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.