W.P. Carey Inc. $WPC Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,638 shares of the real estate investment trust’s stock after buying an additional 17,843 shares during the quarter. Carnegie Investment Counsel owned about 0.10% of W.P. Carey worth $14,098,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MTM Investment Management LLC acquired a new position in shares of W.P. Carey during the second quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey in the 2nd quarter worth about $30,000. V Square Quantitative Management LLC bought a new stake in W.P. Carey in the 2nd quarter valued at about $40,000. REAP Financial Group LLC boosted its stake in W.P. Carey by 56.4% during the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 238 shares during the period. Finally, Salem Investment Counselors Inc. grew its position in W.P. Carey by 1,126.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 613 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 563 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on WPC. Evercore ISI cut their price target on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Scotiabank boosted their price target on 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. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $72.00 in a research note on Thursday, September 11th. Royal Bank Of Canada restated a “sector perform” rating and set a $69.00 price objective on shares of W.P. Carey in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Trading Up 0.3%

Shares of WPC stock opened at $64.82 on Friday. The stock has a 50-day simple moving average of $66.32 and a 200 day simple moving average of $65.75. The stock has a market capitalization of $14.21 billion, a P/E ratio of 39.29, a P/E/G ratio of 6.05 and a beta of 0.78. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two 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 issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The firm had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. During the same period in the previous year, the business earned $1.18 earnings per share. W.P. Carey’s revenue for the quarter was up 8.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, sell-side analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 5.7%. W.P. Carey’s payout ratio is 220.61%.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.