Crestwood Advisors Group LLC Buys 185 Shares of W.P. Carey Inc. (NYSE:WPC)

Crestwood Advisors Group LLC raised its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 2.8% during the first quarter, HoldingsChannel.com reports. The firm owned 6,877 shares of the real estate investment trust’s stock after acquiring an additional 185 shares during the quarter. Crestwood Advisors Group LLC’s holdings in W.P. Carey were worth $434,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of W.P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock valued at $3,056,000 after buying an additional 8,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of W.P. Carey by 13.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust’s stock valued at $758,000 after purchasing an additional 1,442 shares during the period. Envestnet Asset Management Inc. boosted its position in W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust’s stock worth $38,272,000 after purchasing an additional 26,665 shares during the period. Capital Advisors Inc. OK bought a new position in W.P. Carey during the first quarter worth $345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in W.P. Carey by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust’s stock worth $119,235,000 after purchasing an additional 134,523 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Stock Down 0.5%

Shares of WPC opened at $63.43 on Thursday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock’s 50 day moving average is $62.56 and its two-hundred day moving average is $60.65. The firm has a market cap of $13.89 billion, a P/E ratio of 32.69, a PEG ratio of 6.27 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The business had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.90 dividend. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. This represents a $3.60 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend was Monday, June 30th. W.P. Carey’s dividend payout ratio (DPR) is 185.57%.

Analyst Upgrades and Downgrades

WPC has been the subject of several research reports. UBS Group dropped their price objective 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. Evercore ISI raised their price objective on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 2nd. Barclays set a $61.00 price objective on shares of W.P. Carey and gave the stock an “underweight” rating in a research report on Wednesday, May 21st. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the stock a “neutral” rating in a research report on Monday, June 9th. Finally, BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, W.P. Carey currently has a consensus rating of “Hold” and an average target price of $104.22.

W.P. Carey Company 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.