Olistico Wealth LLC Acquires New Stake in W.P. Carey Inc. $WPC

Olistico Wealth LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 735 shares of the real estate investment trust’s stock, valued at approximately $46,000.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of W.P. Carey by 274.7% during 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 purchasing an additional 3,747,898 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in W.P. Carey by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust’s stock worth $266,224,000 after acquiring an additional 195,466 shares during the period. Northern Trust Corp grew its holdings in 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 worth $170,198,000 after acquiring an additional 55,615 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $168,018,000 after acquiring an additional 20,495 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 worth $142,440,000 after purchasing an additional 68,414 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Trading Up 1.0%

NYSE:WPC opened at $69.15 on Friday. The stock has a market cap of $15.14 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 10.07 and a beta of 0.81. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. The stock’s 50-day moving average is $66.66 and its two-hundred day moving average is $63.49.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter in the prior year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is presently 239.47%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent research reports. BNP Paribas Exane upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price on the stock in a report on Monday, June 9th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. Evercore ISI lifted their price target on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Saturday, September 27th. Finally, Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.22.

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.