Proathlete Wealth Management LLC Acquires New Position in W.P. Carey Inc. (NYSE:WPC)

Proathlete Wealth Management LLC acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,097 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other hedge funds have also recently modified their holdings of the company. National Pension Service acquired a new position in W.P. Carey in the fourth quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in W.P. Carey in the fourth quarter valued at about $37,000. Bessemer Group Inc. lifted its position in W.P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 402 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in W.P. Carey in the fourth quarter valued at about $44,000. Finally, Plato Investment Management Ltd acquired a new position in W.P. Carey in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WPC. Wells Fargo & Company upped their target price on shares of W.P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Scotiabank upped their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price on the stock in a research report on Monday, June 9th. UBS Group decreased their target price on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Barclays set a $61.00 price target on shares of W.P. Carey and gave the stock an “underweight” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.40.

W.P. Carey Stock Up 1.0%

Shares of WPC opened at $63.63 on Friday. The company’s 50-day simple moving average is $61.75 and its 200-day simple moving average is $59.41. The stock has a market capitalization of $13.93 billion, a PE ratio of 32.80, a P/E/G ratio of 7.09 and a beta of 0.80. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23.

W.P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). The firm had revenue of $407.44 million during the quarter, compared to analyst estimates of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. Analysts forecast 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.90 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.66%. W.P. Carey’s dividend payout ratio (DPR) is 185.57%.

W.P. Carey Company 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.