1832 Asset Management L.P. Increases Position in W.P. Carey Inc. $WPC

1832 Asset Management L.P. increased its position in W.P. Carey Inc. (NYSE:WPC) by 43.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,999 shares of the real estate investment trust’s stock after acquiring an additional 8,112 shares during the period. 1832 Asset Management L.P.’s holdings in W.P. Carey were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. Griffin Asset Management Inc. increased its holdings in shares of W.P. Carey by 0.6% in the second quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock valued at $2,011,000 after purchasing an additional 178 shares during the period. BridgePort Financial Solutions LLC boosted its position in W.P. Carey by 0.6% in the second quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock valued at $1,789,000 after buying an additional 180 shares during the last quarter. Cooper Financial Group boosted its position in W.P. Carey by 1.5% in the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock valued at $749,000 after buying an additional 181 shares during the last quarter. Kovack Advisors Inc. increased its holdings in W.P. Carey by 3.3% in the 2nd quarter. Kovack Advisors Inc. now owns 5,779 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 186 shares during the period. Finally, Motco raised its position in W.P. Carey by 6.3% during the 2nd quarter. Motco now owns 3,139 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $66.36 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 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 business has a 50-day moving average price of $67.21 and a 200 day moving average price of $65.48. The firm has a market cap of $14.54 billion, a PE ratio of 40.22, a P/E/G ratio of 6.24 and a beta of 0.78.

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

W.P. Carey Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on WPC shares. UBS Group upped their price objective on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Barclays upped their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “underweight” rating in a report on Wednesday. Evercore ISI lifted their price objective on W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price on W.P. Carey from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

W.P. Carey 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.