Raleigh Capital Management Inc. Decreases Stake in W.P. Carey Inc. $WPC

Raleigh Capital Management Inc. cut its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 5.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,187 shares of the real estate investment trust’s stock after selling 183 shares during the quarter. Raleigh Capital Management Inc.’s holdings in W.P. Carey were worth $199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in W.P. Carey during the 1st quarter worth about $26,000. TCTC Holdings LLC increased its holdings in shares of W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC purchased a new position in shares of W.P. Carey in the first quarter worth about $37,000. V Square Quantitative Management LLC acquired a new stake in shares of W.P. Carey during the second quarter worth about $40,000. Finally, Summit Securities Group LLC boosted its position 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 valued at $50,000 after buying an additional 300 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Stock Down 0.9%

WPC opened at $67.49 on Wednesday. The company has a fifty day moving average of $66.39 and a two-hundred day moving average of $63.35. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 44.40, a PEG ratio of 9.91 and a beta of 0.82. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The firm had revenue of $430.78 million for the quarter, compared to analysts’ expectations of $420.99 million. During the same period last year, the firm earned $1.17 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, research analysts expect 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. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. W.P. Carey’s dividend payout ratio (DPR) is presently 236.84%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WPC. UBS Group raised their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Royal Bank Of Canada raised their target price on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Barclays boosted their target price on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, August 20th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a “neutral” rating in a research report on Monday, June 9th. Finally, Scotiabank boosted their price objective on W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, W.P. Carey currently has a consensus rating of “Hold” and an average target price of $67.22.

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.