8,720 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by PFG Investments LLC

PFG Investments LLC acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,720 shares of the real estate investment trust’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also bought and sold shares of WPC. Daiwa Securities Group Inc. boosted its holdings in shares of W. P. Carey by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after purchasing an additional 1,124,010 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in W. P. Carey during the third quarter worth about $613,000. Arizona State Retirement System lifted its holdings in shares of W. P. Carey by 0.8% in the fourth quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock worth $3,811,000 after acquiring an additional 439 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of W. P. Carey by 5.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 219,159 shares of the real estate investment trust’s stock worth $11,852,000 after acquiring an additional 10,562 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $3,403,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WPC shares. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. StockNews.com initiated coverage on shares of W. P. Carey in a report on Thursday, January 4th. They set a “hold” rating on the stock. Royal Bank of Canada decreased their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Finally, Scotiabank decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Stock Up 1.2 %

WPC traded up $0.67 during trading on Monday, hitting $55.70. 1,150,955 shares of the company’s stock were exchanged, compared to its average volume of 1,351,863. The stock has a market cap of $12.19 billion, a P/E ratio of 16.91, a PEG ratio of 0.44 and a beta of 0.86. The business’s 50 day moving average is $55.99 and its two-hundred day moving average is $58.86. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $74.66. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm had revenue of $410.38 million during the quarter, compared to analyst estimates of $413.04 million. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. As a group, equities analysts expect that W. P. Carey Inc. will post 4.56 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.21%. W. P. Carey’s dividend payout ratio (DPR) is 104.85%.

W. P. Carey 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.