Geneos Wealth Management Inc. Raises Stock Holdings in W.P. Carey Inc. $WPC

Geneos Wealth Management Inc. raised its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 1,522.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 291,828 shares of the real estate investment trust’s stock after purchasing an additional 273,841 shares during the quarter. Geneos Wealth Management Inc. owned 0.13% of W.P. Carey worth $18,204,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new stake in shares of W.P. Carey during the second quarter worth approximately $4,378,000. Kestra Investment Management LLC raised its holdings in W.P. Carey by 20.4% in the second quarter. Kestra Investment Management LLC now owns 4,921 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 835 shares in the last quarter. Headlands Technologies LLC bought a new position in W.P. Carey during the 2nd quarter valued at $30,000. CANADA LIFE ASSURANCE Co grew its holdings in W.P. Carey by 3.9% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 494,164 shares of the real estate investment trust’s stock worth $30,848,000 after acquiring an additional 18,689 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in W.P. Carey by 87.2% during the 2nd quarter. Corient Private Wealth LLC now owns 94,062 shares of the real estate investment trust’s stock worth $5,868,000 after acquiring an additional 43,812 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of recent analyst reports. Scotiabank upped their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. cut their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $69.00 price target on shares of W.P. Carey in a report on Monday, December 8th. Finally, Barclays upped their price target on W.P. Carey from $66.00 to $67.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, W.P. Carey has an average rating of “Hold” and a consensus price target of $68.60.

W.P. Carey Stock Performance

Shares of WPC stock opened at $65.00 on Friday. The company has a market cap of $14.25 billion, a P/E ratio of 39.40, a PEG ratio of 6.08 and a beta of 0.78. The business has a 50 day moving average of $66.92 and a two-hundred day moving average of $65.62. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. 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 (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $431.30 million for the quarter, compared to the consensus estimate of $424.44 million. During the same quarter last year, the business posted $1.18 EPS. The business’s revenue 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. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given 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 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s payout ratio is currently 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.