W.P. Carey Inc. $WPC Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 27.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,287 shares of the real estate investment trust’s stock after purchasing an additional 717 shares during the period. GAMMA Investing LLC’s holdings in W.P. Carey were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. IAG Wealth Partners LLC grew its position in W.P. Carey by 7.0% in the first 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 last quarter. GF Fund Management CO. LTD. boosted its stake in shares of W.P. Carey by 4.2% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 168 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of W.P. Carey by 2.8% in the 1st 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 last quarter. SouthState Corp raised 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 during the period. Finally, Focus Financial Network Inc. raised its position in shares of W.P. Carey by 2.6% during the second quarter. Focus Financial Network Inc. now owns 7,934 shares of the real estate investment trust’s stock worth $495,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WPC. Royal Bank Of Canada lifted their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a “neutral” rating in a report on Monday, June 9th. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Scotiabank upped their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, September 5th. Finally, BNP Paribas Exane upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective on the stock in a research report on Monday, June 9th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.22.

W.P. Carey Stock Performance

WPC stock opened at $68.48 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. The stock 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. The firm has a 50 day simple moving average of $66.19 and a 200 day simple moving average of $63.28. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.00.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal 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 paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. W.P. Carey’s dividend payout ratio is presently 236.84%.

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.