Carnegie Investment Counsel Purchases 27,882 Shares of W.P. Carey Inc. $WPC

Carnegie Investment Counsel increased its position in W.P. Carey Inc. (NYSE:WPC) by 17.1% during the second quarter, Holdings Channel reports. The firm owned 190,795 shares of the real estate investment trust’s stock after buying an additional 27,882 shares during the quarter. Carnegie Investment Counsel’s holdings in W.P. Carey were worth $11,902,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WPC. von Borstel & Associates Inc. acquired a new position in W.P. Carey during the first quarter worth approximately $26,000. TCTC Holdings LLC boosted its stake 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 worth $30,000 after acquiring an additional 242 shares during the period. Cheviot Value Management LLC acquired a new position in shares of W.P. Carey during the 1st quarter worth approximately $37,000. V Square Quantitative Management LLC acquired a new position in shares of W.P. Carey during the 2nd quarter worth approximately $40,000. Finally, REAP Financial Group LLC raised its stake in W.P. Carey by 56.4% in the 2nd quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 238 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $66.76 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 43.92, a price-to-earnings-growth ratio of 9.82 and a beta of 0.81. W.P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $69.79. The company has a 50-day simple moving average of $67.43 and a two-hundred day simple moving average of $64.15.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping 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 company 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 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. Analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was 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 is currently 239.47%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WPC. Royal Bank Of Canada lifted their price objective on shares of W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Scotiabank lifted 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. Evercore ISI upped their price target on shares of 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. UBS Group raised their price objective 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. Finally, Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, W.P. Carey currently has an average rating of “Hold” and an average price target of $67.44.

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.