W.P. Carey Inc. (NYSE:WPC) Shares Bought by BridgePort Financial Solutions LLC

BridgePort Financial Solutions LLC lifted its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,501 shares of the real estate investment trust’s stock after buying an additional 979 shares during the quarter. BridgePort Financial Solutions LLC’s holdings in W.P. Carey were worth $1,799,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of W.P. Carey by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock worth $1,679,110,000 after buying an additional 242,576 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of W.P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock worth $256,201,000 after buying an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of W.P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock worth $219,170,000 after buying an additional 906,622 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of W.P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after buying an additional 43,197 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of W.P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock worth $143,894,000 after buying an additional 758,627 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Up 1.8%

Shares of W.P. Carey stock opened at $64.56 on Tuesday. The company has a market cap of $14.14 billion, a P/E ratio of 33.28, a PEG ratio of 7.06 and a beta of 0.80. 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 Inc. has a one year low of $52.91 and a one year high of $66.10. The firm has a fifty day moving average of $61.96 and a two-hundred day moving average of $59.57.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analysts’ expectations of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 dividend on an annualized basis and a yield of 5.58%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. W.P. Carey’s dividend payout ratio is presently 183.51%.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Barclays set a $61.00 price target on shares of W.P. Carey and gave the company an “underweight” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. UBS Group reduced their price target on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Scotiabank upped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, W.P. Carey presently has an average rating of “Hold” and an average target price of $100.40.

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.