Te Ahumairangi Investment Management Ltd Purchases 3,920 Shares of W.P. Carey Inc. $WPC

Te Ahumairangi Investment Management Ltd increased its position in W.P. Carey Inc. (NYSE:WPC) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 78,547 shares of the real estate investment trust’s stock after acquiring an additional 3,920 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in W.P. Carey were worth $4,900,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake 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 in the last quarter. Nuveen LLC bought a new position in W.P. Carey in the 1st quarter worth approximately $30,194,000. Kingstone Capital Partners Texas LLC bought a new position in W.P. Carey in the 2nd quarter worth approximately $24,030,000. Advisors Capital Management LLC grew its stake in W.P. Carey by 46.3% in the 1st quarter. Advisors Capital Management LLC now owns 823,328 shares of the real estate investment trust’s stock valued at $51,960,000 after buying an additional 260,674 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in W.P. Carey during the 2nd quarter valued at $15,738,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WPC. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Evercore ISI increased their price objective on W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Scotiabank lifted their target price 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. Barclays upped their price target on W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.89.

W.P. Carey Trading Up 0.3%

Shares of WPC opened at $67.24 on Wednesday. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The company has a market capitalization of $14.74 billion, a P/E ratio of 40.75, a P/E/G ratio of 9.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.19. The firm’s 50 day simple moving average is $67.31 and its 200 day simple moving average is $65.17.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The firm had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. During the same quarter last year, the company posted $1.18 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Sell-side analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.91 dividend. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s payout ratio is currently 220.61%.

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.