Assetmark Inc. Raises Position in W.P. Carey Inc. $WPC

Assetmark Inc. increased its position in shares of W.P. Carey Inc. (NYSE:WPC) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,966 shares of the real estate investment trust’s stock after purchasing an additional 1,175 shares during the period. Assetmark Inc.’s holdings in W.P. Carey were worth $746,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC lifted its holdings in shares of W.P. Carey by 100.8% in the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 242 shares during the period. Cheviot Value Management LLC purchased a new position in W.P. Carey in the 1st quarter valued at approximately $37,000. V Square Quantitative Management LLC acquired a new position in W.P. Carey during the second quarter worth $40,000. REAP Financial Group LLC boosted its position in W.P. Carey by 56.4% during the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 238 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in W.P. Carey during the second quarter worth $43,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WPC shares. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Evercore ISI increased their price target on shares of W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Barclays raised their price target on W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.89.

W.P. Carey Stock Performance

NYSE WPC opened at $66.26 on Friday. The business’s 50-day moving average price is $67.44 and its 200 day moving average price is $64.61. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.79. The company has a market capitalization of $14.52 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 9.57 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $431.30 million during the quarter, compared to the consensus estimate of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, research analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.5%. W.P. Carey’s dividend payout ratio (DPR) is 220.61%.

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.