Frank Rimerman Advisors LLC Boosts Stake in W.P. Carey Inc. $WPC

Frank Rimerman Advisors LLC grew its holdings in W.P. Carey Inc. (NYSE:WPC) by 16.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,431 shares of the real estate investment trust’s stock after purchasing an additional 3,122 shares during the period. Frank Rimerman Advisors LLC’s holdings in W.P. Carey were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in W.P. Carey by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock valued at $322,630,000 after buying an additional 3,747,898 shares during the period. Geode Capital Management LLC boosted its stake in W.P. Carey by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,606,018 shares of the real estate investment trust’s stock worth $286,581,000 after buying an additional 87,150 shares during the period. Northern Trust Corp increased its position in shares of W.P. Carey by 2.1% during the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust’s stock valued at $170,198,000 after acquiring an additional 55,615 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of W.P. Carey by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust’s stock valued at $168,018,000 after acquiring an additional 20,495 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of W.P. Carey by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust’s stock valued at $142,440,000 after acquiring an additional 68,414 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th. UBS Group raised their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their target price on W.P. Carey from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Evercore ISI raised their target price on W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.89.

W.P. Carey Stock Down 0.2%

W.P. Carey stock opened at $66.86 on Wednesday. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.79. The stock’s fifty day simple moving average is $67.47 and its 200-day simple moving average is $64.98. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $14.65 billion, a P/E ratio of 40.52, a P/E/G ratio of 9.57 and a beta of 0.80.

W.P. Carey (NYSE:WPC) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The firm had revenue of $431.30 million during the quarter, compared to analyst estimates of $424.44 million. During the same period last year, the business posted $1.18 earnings per share. W.P. Carey’s revenue was up 8.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.91 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s dividend payout ratio is presently 220.61%.

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.