Franklin Resources Inc. Has $18.94 Million Holdings in W.P. Carey Inc. $WPC

Franklin Resources Inc. raised its stake in W.P. Carey Inc. (NYSE:WPC) by 22.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 303,660 shares of the real estate investment trust’s stock after buying an additional 55,518 shares during the quarter. Franklin Resources Inc. owned 0.14% of W.P. Carey worth $18,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. MTM Investment Management LLC bought a new stake in shares of W.P. Carey in the 2nd quarter valued at about $28,000. Cheviot Value Management LLC acquired a new position in W.P. Carey during the first quarter valued at approximately $37,000. V Square Quantitative Management LLC bought a new stake in W.P. Carey in the second quarter valued at approximately $40,000. REAP Financial Group LLC increased its stake in W.P. Carey by 56.4% in the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 238 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in W.P. Carey in the second quarter worth $43,000. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $67.49 on Friday. The company has a fifty day moving average price of $67.30 and a 200 day moving average price of $65.20. The firm has a market cap of $14.79 billion, a PE ratio of 40.90, a PEG ratio of 9.57 and a beta of 0.80. 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 Inc. has a 1-year low of $52.91 and a 1-year high of $69.79.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results 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. The firm 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 company’s revenue for the quarter 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. Research 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 company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.91 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a 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 220.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WPC shares. UBS Group lifted 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. Royal Bank Of Canada lifted their target price on W.P. Carey from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Scotiabank boosted their target price on 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 increased 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, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.89.

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.