Sage Rhino Capital LLC Purchases Shares of 3,342 W.P. Carey Inc. $WPC

Sage Rhino Capital LLC acquired a new position in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,342 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of W.P. Carey by 13.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,087 shares of the real estate investment trust’s stock worth $758,000 after buying an additional 1,442 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust’s stock valued at $38,272,000 after purchasing an additional 26,665 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in shares of W.P. Carey in the first quarter worth about $345,000. Ethos Financial Group LLC bought a new stake in shares of W.P. Carey in the first quarter worth about $372,000. Finally, GAMMA Investing LLC lifted its position in shares of W.P. Carey by 36.1% in the first quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 681 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BNP Paribas Exane raised W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective on the stock in a research note on Monday, June 9th. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Barclays lifted their price objective 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. Scotiabank upped their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.22.

W.P. Carey Price Performance

WPC opened at $68.48 on Monday. The business has a fifty day moving average of $66.19 and a 200 day moving average of $63.28. The stock has a market cap of $15.00 billion, a P/E ratio of 45.05, a PEG ratio of 9.96 and a beta of 0.82. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.00.

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

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.3%. W.P. Carey’s dividend payout ratio (DPR) is presently 236.84%.

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.