Private Management Group Inc. Has $30.21 Million Position in W.P. Carey Inc. $WPC

Private Management Group Inc. boosted its holdings in W.P. Carey Inc. (NYSE:WPC) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 484,265 shares of the real estate investment trust’s stock after buying an additional 10,121 shares during the period. Private Management Group Inc.’s holdings in W.P. Carey were worth $30,208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WPC. JPMorgan Chase & Co. increased its position 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 acquiring an additional 3,747,898 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 87,150 shares during the period. Northern Trust Corp grew its stake in shares of W.P. Carey by 2.1% in 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 purchasing an additional 55,615 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in W.P. Carey by 0.8% in 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 purchasing an additional 20,495 shares during the period. Finally, Legal & General Group Plc raised its position in W.P. Carey by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 2,551,251 shares of the real estate investment trust’s stock worth $159,147,000 after purchasing an additional 120,498 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WPC shares. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Evercore ISI raised their price objective on W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Scotiabank lifted their price objective on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Friday, September 5th. Barclays increased their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Finally, UBS Group raised their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Three 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.89.

W.P. Carey Stock Up 1.2%

Shares of NYSE:WPC opened at $67.09 on Friday. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.19. The business’s 50-day moving average is $67.36 and its 200-day moving average is $65.04. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 40.66, 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. During the same quarter last year, the firm posted $1.18 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Equities research analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, September 30th. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is presently 220.61%.

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.