DekaBank Deutsche Girozentrale Purchases 1,277 Shares of W.P. Carey Inc. $WPC

DekaBank Deutsche Girozentrale grew its position in shares of W.P. Carey Inc. (NYSE:WPC) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 143,926 shares of the real estate investment trust’s stock after buying an additional 1,277 shares during the period. DekaBank Deutsche Girozentrale’s holdings in W.P. Carey were worth $9,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WPC. von Borstel & Associates Inc. bought a new stake in shares of W.P. Carey during the first quarter valued at approximately $26,000. TCTC Holdings LLC grew its holdings in W.P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 242 shares in the last quarter. Cheviot Value Management LLC bought a new stake in W.P. Carey during the first quarter worth $37,000. V Square Quantitative Management LLC bought a new stake in W.P. Carey during the second quarter worth $40,000. Finally, REAP Financial Group LLC grew its holdings in W.P. Carey by 56.4% during the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 238 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Up 0.4%

Shares of NYSE:WPC opened at $67.92 on Friday. The company has a market capitalization of $14.87 billion, a PE ratio of 44.68, a price-to-earnings-growth ratio of 9.79 and a beta of 0.81. 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 business has a fifty day moving average price of $67.40 and a two-hundred day moving average price of $64.07. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current 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. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s payout ratio is currently 239.47%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Barclays upped their price target on W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a report on Monday. Scotiabank upped their price target on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Friday, September 5th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Finally, Evercore ISI upped their price target on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, W.P. Carey currently has an average rating of “Hold” and a consensus target price of $67.44.

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.