Applied Capital LLC FL Acquires 893 Shares of W.P. Carey Inc. $WPC

Applied Capital LLC FL lifted its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 9.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,428 shares of the real estate investment trust’s stock after acquiring an additional 893 shares during the period. Applied Capital LLC FL’s holdings in W.P. Carey were worth $650,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock valued at $322,630,000 after purchasing an additional 3,747,898 shares in the last quarter. Pacer Advisors Inc. boosted its stake in W.P. Carey by 1,016.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,751,921 shares of the real estate investment trust’s stock valued at $110,564,000 after buying an additional 1,595,045 shares in the last quarter. Nuveen LLC bought a new stake in W.P. Carey in the first quarter valued at $30,194,000. Private Management Group Inc. acquired a new position in W.P. Carey during the first quarter worth $29,923,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of W.P. Carey during the second quarter valued at $24,030,000. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

W.P. Carey stock opened at $66.81 on Friday. W.P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $69.79. The company’s 50-day moving average is $66.98 and its two-hundred day moving average is $63.68. 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 has a market cap of $14.63 billion, a PE ratio of 43.95, a PEG ratio of 9.70 and a beta of 0.81.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data 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 analyst estimates of $420.99 million. During the same period in the prior year, the business posted $1.17 earnings per share. W.P. Carey’s revenue was up 10.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Equities analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey’s payout ratio is currently 239.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WPC. UBS Group increased their target price 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. Scotiabank raised their price objective 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 boosted their target price on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.