Consolidated Portfolio Review Corp Acquires 13,546 Shares of W.P. Carey Inc. (NYSE:WPC)

Consolidated Portfolio Review Corp grew its holdings in W.P. Carey Inc. (NYSE:WPC) by 89.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 28,698 shares of the real estate investment trust’s stock after buying an additional 13,546 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in W.P. Carey were worth $1,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WPC. IAG Wealth Partners LLC grew its stake in W.P. Carey by 7.0% in the 1st quarter. IAG Wealth Partners LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 163 shares in the last quarter. DF Dent & Co. Inc. boosted its holdings in shares of W.P. Carey by 3.5% in the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 183 shares during the period. HighTower Advisors LLC grew its position in shares of W.P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 193 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of W.P. Carey by 2.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 11,531 shares of the real estate investment trust’s stock valued at $628,000 after purchasing an additional 293 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of W.P. Carey by 5.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,165 shares of the real estate investment trust’s stock valued at $341,000 after purchasing an additional 315 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Trading Up 1.8%

Shares of WPC opened at $64.56 on Tuesday. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a market capitalization of $14.14 billion, a P/E ratio of 33.28, a P/E/G ratio of 7.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.23 and a quick ratio of 0.23. The firm’s 50 day simple moving average is $61.96 and its 200 day simple moving average is $59.57.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. W.P. Carey’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Monday, June 30th. This is a boost from W.P. Carey’s previous quarterly dividend of $0.89. W.P. Carey’s dividend payout ratio is currently 183.51%.

Analyst Upgrades and Downgrades

WPC has been the subject of several analyst reports. BNP Paribas Exane upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 target price for the company in a research note on Monday, June 9th. BNP Paribas set a $66.00 price target on shares of W.P. Carey and gave the stock a “neutral” rating in a report on Monday, June 9th. Royal Bank Of Canada raised their price objective on shares of W.P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Scotiabank boosted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, UBS Group lowered their target price on shares of W.P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $100.40.

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.