Penserra Capital Management LLC Lowers Holdings in W.P. Carey Inc. $WPC

Penserra Capital Management LLC reduced its position in shares of W.P. Carey Inc. (NYSE:WPC) by 13.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 22,070 shares of the real estate investment trust’s stock after selling 3,501 shares during the period. Penserra Capital Management LLC’s holdings in W.P. Carey were worth $1,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. TCTC Holdings LLC lifted its holdings in shares of W.P. Carey by 100.8% in the 1st 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 during the period. Cheviot Value Management LLC bought a new stake in shares of W.P. Carey in the first quarter valued at about $37,000. V Square Quantitative Management LLC purchased a new stake in W.P. Carey in the second quarter worth about $40,000. REAP Financial Group LLC grew its holdings in W.P. Carey by 56.4% during the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 238 shares in the last quarter. Finally, Hilltop National Bank bought a new position in W.P. Carey during the 2nd quarter worth about $43,000. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WPC shares. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Barclays lifted their price objective on shares of W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a report on Monday, October 20th. UBS Group upped their target price on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Scotiabank lifted their price target on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, W.P. Carey has an average rating of “Hold” and a consensus price target of $67.89.

W.P. Carey Price Performance

Shares of WPC opened at $66.76 on Tuesday. The company has a 50 day moving average of $67.44 and a two-hundred day moving average of $64.73. 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 Inc. has a twelve month low of $52.91 and a twelve month high of $69.79. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 9.57 and a beta of 0.80.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. As a group, analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

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