Advisors Capital Management LLC Increases Stock Position in W.P. Carey Inc. $WPC

Advisors Capital Management LLC boosted its stake in W.P. Carey Inc. (NYSE:WPC) by 46.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 823,328 shares of the real estate investment trust’s stock after acquiring an additional 260,674 shares during the period. Advisors Capital Management LLC’s holdings in W.P. Carey were worth $51,960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IAG Wealth Partners LLC raised its holdings in shares of W.P. Carey by 7.0% in the first quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 163 shares during the last quarter. GF Fund Management CO. LTD. raised its holdings in shares of W.P. Carey by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 168 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of W.P. Carey by 2.8% in the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust’s stock valued at $434,000 after buying an additional 185 shares during the last quarter. SouthState Corp raised its holdings in shares of W.P. Carey by 15.7% in the first quarter. SouthState Corp now owns 1,439 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 195 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of W.P. Carey by 1.0% in the first quarter. AlphaQuest LLC now owns 21,684 shares of the real estate investment trust’s stock valued at $1,368,000 after buying an additional 217 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Trading Down 0.3%

NYSE WPC opened at $67.55 on Thursday. The stock has a market capitalization of $14.79 billion, a P/E ratio of 44.44, a P/E/G ratio of 9.86 and a beta of 0.82. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $68.28. The firm has a 50-day moving average price of $64.85 and a 200 day moving average price of $62.95. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities research analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group upped their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Friday, August 15th. Wells Fargo & Company upped their target price on shares of W.P. Carey from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, August 27th. Evercore ISI upped their target price on shares of W.P. Carey from $65.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the company a “neutral” rating in a 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 target price for the company in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.33.

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.