W.P. Carey Inc. $WPC Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its position in shares of W.P. Carey Inc. (NYSE:WPC) by 33.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,470 shares of the real estate investment trust’s stock after buying an additional 370 shares during the quarter. Whittier Trust Co.’s holdings in W.P. Carey were worth $92,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. GAMMA Investing LLC raised its stake in W.P. Carey by 36.1% during the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 681 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of W.P. Carey by 20.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,090 shares of the real estate investment trust’s stock worth $952,000 after purchasing an additional 2,540 shares during the period. Spire Wealth Management raised its position in shares of W.P. Carey by 48.5% during the 1st quarter. Spire Wealth Management now owns 3,052 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 997 shares during the period. Golden State Wealth Management LLC raised its position in shares of W.P. Carey by 101.7% during the 1st quarter. Golden State Wealth Management LLC now owns 3,272 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 1,650 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of W.P. Carey by 74.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 872,496 shares of the real estate investment trust’s stock worth $55,063,000 after purchasing an additional 372,433 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Stock Down 1.7%

WPC opened at $66.76 on Friday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79. 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 stock has a market cap of $14.62 billion, a P/E ratio of 43.92, a P/E/G ratio of 9.82 and a beta of 0.81. The stock’s 50 day moving average price is $67.43 and its 200 day moving average price is $64.15.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. During the same period last year, the firm earned $1.17 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, research analysts predict 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. 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 an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is 239.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WPC shares. UBS Group increased their price target on W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research report on Friday. Scotiabank increased their price target on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. Finally, Evercore ISI increased their price target on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.44.

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.