Janney Montgomery Scott LLC Has $9.22 Million Holdings in W.P. Carey Inc. $WPC

Janney Montgomery Scott LLC cut its holdings in W.P. Carey Inc. (NYSE:WPC) by 0.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,833 shares of the real estate investment trust’s stock after selling 393 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of W.P. Carey worth $9,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WPC. JPMorgan Chase & Co. raised its holdings in shares of W.P. Carey by 274.7% in the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock valued at $322,630,000 after purchasing an additional 3,747,898 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 buying an additional 1,595,045 shares in the last quarter. Nuveen LLC bought a new position in shares of W.P. Carey in the first quarter valued at $30,194,000. Private Management Group Inc. bought a new position in shares of W.P. Carey in the first quarter valued at $29,923,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of W.P. Carey in the second quarter valued at $24,030,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. Royal Bank Of Canada raised 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. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Saturday, September 27th. Barclays raised their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, August 20th. Evercore ISI raised 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. Finally, Scotiabank lifted their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. Three equities research 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’s stock. According to MarketBeat.com, W.P. Carey has a consensus rating of “Hold” and a consensus target price of $67.22.

W.P. Carey Trading Up 1.0%

WPC stock opened at $69.15 on Friday. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 10.07 and a beta of 0.81. The company has a fifty day moving average price of $66.66 and a two-hundred day moving average price of $63.49.

W.P. Carey (NYSE:WPC) last posted its 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 during the quarter, compared to the consensus estimate of $420.99 million. During the same quarter last year, the firm earned $1.17 earnings per share. The company’s 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 anticipate that W.P. Carey Inc. will post 4.87 EPS 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. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 30th. W.P. Carey’s payout ratio is 239.47%.

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.