Farther Finance Advisors LLC Purchases 653 Shares of W.P. Carey Inc. $WPC

Farther Finance Advisors LLC raised its position in shares of W.P. Carey Inc. (NYSE:WPC) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,117 shares of the real estate investment trust’s stock after purchasing an additional 653 shares during the quarter. Farther Finance Advisors LLC’s holdings in W.P. Carey were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPC. IAG Wealth Partners LLC boosted its holdings in W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 163 shares during the period. GF Fund Management CO. LTD. lifted its position in shares of W.P. Carey by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 168 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of W.P. Carey by 2.8% in the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust’s stock worth $434,000 after acquiring an additional 185 shares during the period. SouthState Corp grew its position in shares of W.P. Carey by 15.7% during the first quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 195 shares in the last quarter. Finally, Focus Financial Network Inc. raised its stake in W.P. Carey by 2.6% during the 2nd quarter. Focus Financial Network Inc. now owns 7,934 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 198 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Trading Up 1.6%

WPC opened at $68.48 on Monday. The firm has a market cap of $15.00 billion, a P/E ratio of 45.05, a P/E/G ratio of 9.96 and a beta of 0.82. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.00. 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 stock has a 50-day moving average of $66.19 and a 200 day moving average of $63.28.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. The business had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.3%. W.P. Carey’s payout ratio is presently 236.84%.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent analyst reports. UBS Group upped their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, August 15th. Barclays boosted their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, August 20th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, 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 note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, W.P. Carey 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.