Fifth Third Wealth Advisors LLC Acquires 3,155 Shares of W.P. Carey Inc. $WPC

Fifth Third Wealth Advisors LLC boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 50.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,364 shares of the real estate investment trust’s stock after purchasing an additional 3,155 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in W.P. Carey were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after purchasing an additional 3,747,898 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in W.P. Carey by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust’s stock worth $266,224,000 after purchasing an additional 195,466 shares during the period. Northern Trust Corp lifted its stake in W.P. Carey by 2.1% during the first quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust’s stock worth $170,198,000 after purchasing an additional 55,615 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in W.P. Carey by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust’s stock worth $168,018,000 after purchasing an additional 20,495 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of W.P. Carey by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust’s stock valued at $142,440,000 after acquiring an additional 68,414 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPC. Wells Fargo & Company upgraded shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Scotiabank lifted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. UBS Group lifted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Finally, Royal Bank Of Canada lifted their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, W.P. Carey presently has an average rating of “Hold” and an average price target of $67.22.

W.P. Carey Stock Performance

WPC stock opened at $66.81 on Monday. 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 company has a 50 day moving average price of $66.98 and a 200 day moving average price of $63.69. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The stock has a market capitalization of $14.63 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 9.67 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The firm had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. During the same quarter in the previous year, the company posted $1.17 EPS. W.P. Carey’s revenue was up 10.5% on a year-over-year basis. 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 EPS for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.91 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey’s dividend payout ratio is presently 239.47%.

About W.P. Carey

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.