Weaver Consulting Group Trims Position in W.P. Carey Inc. $WPC

Weaver Consulting Group lowered its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,818 shares of the real estate investment trust’s stock after selling 784 shares during the quarter. Weaver Consulting Group’s holdings in W.P. Carey were worth $2,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WPC. Andra AP fonden boosted its holdings in W.P. Carey by 27.9% in the 2nd quarter. Andra AP fonden now owns 160,700 shares of the real estate investment trust’s stock valued at $10,024,000 after purchasing an additional 35,100 shares in the last quarter. Ethos Financial Group LLC purchased a new stake in shares of W.P. Carey in the 1st quarter worth about $372,000. New Age Alpha Advisors LLC grew its position in shares of W.P. Carey by 23.8% in the first quarter. New Age Alpha Advisors LLC now owns 76,348 shares of the real estate investment trust’s stock valued at $4,818,000 after purchasing an additional 14,702 shares during the last quarter. Jump Financial LLC purchased a new position in W.P. Carey during the first quarter worth $4,605,000. Finally, Resona Asset Management Co. Ltd. raised its stake in W.P. Carey by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 129,356 shares of the real estate investment trust’s stock valued at $8,124,000 after purchasing an additional 9,794 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

Shares of WPC stock opened at $66.52 on Thursday. The company has a market cap of $14.58 billion, a P/E ratio of 40.47, a PEG ratio of 9.57 and a beta of 0.80. The business has a 50 day moving average of $67.44 and a two-hundred day moving average of $64.99. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. The company has a quick ratio of 0.19, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $431.30 million for the quarter, compared to the consensus estimate of $424.44 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. As a group, analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio (DPR) is presently 220.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WPC shares. UBS Group raised their price objective on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Royal Bank Of Canada raised their price target on shares of W.P. Carey from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.