Cambridge Investment Research Advisors Inc. Grows Stock Position in W.P. Carey Inc. (NYSE:WPC)

Cambridge Investment Research Advisors Inc. increased its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,497 shares of the real estate investment trust’s stock after purchasing an additional 1,288 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.07% of W.P. Carey worth $9,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. raised its position in W.P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock worth $3,056,000 after buying an additional 8,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of W.P. Carey by 6.5% in 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 valued at $119,235,000 after acquiring an additional 134,523 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of W.P. Carey by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock worth $256,201,000 after acquiring an additional 135,090 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in W.P. Carey by 3.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 355,333 shares of the real estate investment trust’s stock worth $19,359,000 after purchasing an additional 12,560 shares in the last quarter. Finally, Vestcor Inc raised its holdings in W.P. Carey by 120.4% during the fourth quarter. Vestcor Inc now owns 69,640 shares of the real estate investment trust’s stock worth $3,794,000 after purchasing an additional 38,043 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WPC. BNP Paribas Exane raised W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective on the stock in a report on Monday, June 9th. Barclays set a $61.00 price target on W.P. Carey and gave the company an “underweight” rating in a research note on Wednesday, May 21st. Royal Bank Of Canada upped their price objective on W.P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. BNP Paribas set a $66.00 target price on W.P. Carey and gave the company a “neutral” rating in a report on Monday, June 9th. Finally, Wells Fargo & Company boosted their target price on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $100.40.

W.P. Carey Stock Down 2.6%

WPC opened at $62.70 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 7.17 and a beta of 0.80. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The business’s fifty day moving average is $62.06 and its two-hundred day moving average is $59.62.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings data 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). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The business had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. During the same period last year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.74%. W.P. Carey’s dividend payout ratio (DPR) is presently 183.51%.

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.