W.P. Carey Inc. $WPC Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas lowered its holdings in W.P. Carey Inc. (NYSE:WPC) by 7.4% during the second quarter, HoldingsChannel.com reports. The fund owned 126,000 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Employees Retirement System of Texas’ holdings in W.P. Carey were worth $7,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Griffin Asset Management Inc. raised its position in shares of W.P. Carey by 0.6% during the 2nd quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock worth $2,011,000 after purchasing an additional 178 shares during the period. BridgePort Financial Solutions LLC grew its stake in W.P. Carey by 0.6% during the 2nd quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock worth $1,789,000 after buying an additional 180 shares during the last quarter. Cooper Financial Group increased its position in W.P. Carey by 1.5% in the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock worth $749,000 after buying an additional 181 shares during the period. Kovack Advisors Inc. increased its position in W.P. Carey by 3.3% in the second quarter. Kovack Advisors Inc. now owns 5,779 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 186 shares during the period. Finally, Motco lifted its stake in W.P. Carey by 6.3% in the second quarter. Motco now owns 3,139 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 187 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Up 0.3%

WPC stock opened at $67.49 on Thursday. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 9.57 and a beta of 0.80. The firm’s 50-day moving average is $67.30 and its two-hundred day moving average is $65.19. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The business had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. During the same period last year, the firm posted $1.18 earnings per share. The business’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. On average, 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 company also recently declared 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. The ex-dividend date was Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. W.P. Carey’s payout ratio is 220.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group upped their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Scotiabank boosted their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. Barclays upped their target price 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. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Three equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $67.89.

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.