GAMMA Investing LLC Acquires 681 Shares of W.P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC increased its holdings in W.P. Carey Inc. (NYSE:WPC) by 36.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,570 shares of the real estate investment trust’s stock after purchasing an additional 681 shares during the period. GAMMA Investing LLC’s holdings in W.P. Carey were worth $162,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WPC. Oppenheimer & Co. Inc. boosted its holdings in W.P. Carey by 22.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,550 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 2,297 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in W.P. Carey in the fourth quarter worth $1,428,000. US Bancorp DE boosted its holdings in W.P. Carey by 8.3% in the fourth quarter. US Bancorp DE now owns 32,764 shares of the real estate investment trust’s stock worth $1,785,000 after purchasing an additional 2,499 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in W.P. Carey by 59.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,099 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in W.P. Carey by 8.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,866 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 979 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WPC. Wells Fargo & Company raised their price target on W.P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. UBS Group cut their price target on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Scotiabank raised their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock a “neutral” rating in a report on Monday, June 9th. Finally, Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an “underweight” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $100.60.

W.P. Carey Trading Down 0.5%

Shares of NYSE WPC opened at $63.00 on Friday. The company’s fifty day moving average is $62.26 and its 200-day moving average is $59.95. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 7.04 and a beta of 0.78. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.90 dividend. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey’s payout ratio is presently 185.57%.

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.