BridgePort Financial Solutions LLC Purchases 180 Shares of W.P. Carey Inc. $WPC

BridgePort Financial Solutions LLC grew its position in W.P. Carey Inc. (NYSE:WPC) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,681 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the quarter. BridgePort Financial Solutions LLC’s holdings in W.P. Carey were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of WPC. JPMorgan Chase & Co. boosted its position in shares of W.P. Carey by 274.7% in the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after purchasing an additional 3,747,898 shares during the period. Pacer Advisors Inc. boosted its position in shares of W.P. Carey by 1,016.8% in the first quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock worth $110,564,000 after purchasing an additional 1,595,045 shares during the period. Nuveen LLC purchased a new position in shares of W.P. Carey in the first quarter worth $30,194,000. Private Management Group Inc. purchased a new position in shares of W.P. Carey in the first quarter worth $29,923,000. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of W.P. Carey in the second quarter worth $24,030,000. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on WPC shares. 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 report on Monday, June 9th. UBS Group boosted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Scotiabank boosted their target price on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Friday, September 5th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Finally, Evercore ISI lifted their price objective on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.22.

W.P. Carey Trading Up 1.0%

Shares of WPC opened at $69.15 on Friday. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.79. The company has a market cap of $15.14 billion, a P/E ratio of 45.49, a P/E/G ratio of 10.07 and a beta of 0.81. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The company’s fifty day simple moving average is $66.66 and its 200-day simple moving average is $63.49.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.05. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter 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. As a group, analysts expect that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio (DPR) is currently 239.47%.

W.P. Carey 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.