W.P. Carey Inc. $WPC Stock Position Raised by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 9.4% during the third quarter, Holdings Channel reports. The firm owned 208,638 shares of the real estate investment trust’s stock after purchasing an additional 17,843 shares during the quarter. Carnegie Investment Counsel’s holdings in W.P. Carey were worth $14,098,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of W.P. Carey by 10.2% in the 1st quarter. American Century Companies Inc. now owns 72,070 shares of the real estate investment trust’s stock valued at $4,548,000 after purchasing an additional 6,685 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in W.P. Carey by 40.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,451 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 2,454 shares in the last quarter. Ieq Capital LLC lifted its stake in W.P. Carey by 127.8% during the first quarter. Ieq Capital LLC now owns 9,508 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 5,335 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of W.P. Carey in the first quarter worth about $792,000. Finally, Evergreen Capital Management LLC increased its position in shares of W.P. Carey by 5.1% in the first quarter. Evergreen Capital Management LLC now owns 7,058 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 345 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Trading Up 0.3%

Shares of NYSE:WPC opened at $64.82 on Friday. The firm has a fifty day moving average of $66.32 and a two-hundred day moving average of $65.75. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.79. The firm has a market capitalization of $14.21 billion, a P/E ratio of 39.29, a price-to-earnings-growth ratio of 6.05 and a beta of 0.78.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $431.30 million during the quarter, compared to analyst estimates of $424.44 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.W.P. Carey’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, equities analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s dividend payout ratio (DPR) is presently 220.61%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $69.00 target price on shares of W.P. Carey in a report on Monday, December 8th. Evercore ISI lowered their price target on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a report on Monday, December 15th. Finally, Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.50.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.