Avondale Wealth Management Invests $94,000 in W.P. Carey Inc. $WPC

Avondale Wealth Management bought a new stake in W.P. Carey Inc. (NYSE:WPC) during the second quarter, HoldingsChannel reports. The fund bought 1,500 shares of the real estate investment trust’s stock, valued at approximately $94,000.

A number of other large investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new stake in W.P. Carey during the first quarter worth about $26,000. TCTC Holdings LLC raised its holdings in shares of W.P. Carey by 100.8% during the 1st quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 242 shares in the last quarter. Cheviot Value Management LLC bought a new stake in W.P. Carey in the 1st quarter worth approximately $37,000. V Square Quantitative Management LLC purchased a new stake in W.P. Carey in the second quarter worth approximately $40,000. Finally, Summit Securities Group LLC boosted its stake in W.P. Carey by 60.0% in the first quarter. Summit Securities Group LLC now owns 800 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Price Performance

WPC stock opened at $68.48 on Monday. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 45.05, a PEG ratio of 9.96 and a beta of 0.82. The firm’s 50-day moving average price is $66.19 and its two-hundred day moving average price is $63.28. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $69.00.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. W.P. Carey’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, equities analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio is 236.84%.

Analysts Set New Price Targets

Several research firms have commented on WPC. Barclays lifted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 20th. 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 stock from $68.00 to $72.00 in a research report on Thursday, September 11th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. Evercore ISI raised their price objective on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Scotiabank boosted their target price on 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. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.22.

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.