International Assets Investment Management LLC Acquires 1,012 Shares of W.P. Carey Inc. $WPC

International Assets Investment Management LLC boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 17.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,666 shares of the real estate investment trust’s stock after purchasing an additional 1,012 shares during the period. International Assets Investment Management LLC’s holdings in W.P. Carey were worth $416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of W.P. Carey by 274.7% in the 1st 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 during the period. Pacer Advisors Inc. raised its stake in shares of 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 purchasing an additional 1,595,045 shares during the period. Nuveen LLC acquired a new stake in shares of W.P. Carey in the 1st quarter valued at about $30,194,000. Private Management Group Inc. acquired a new stake in shares of W.P. Carey in the 1st quarter valued at about $29,923,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of W.P. Carey in the 2nd quarter valued at about $24,030,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WPC shares. Barclays lifted their price target on W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Evercore ISI lifted their target price on W.P. Carey from $66.00 to $70.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Royal Bank Of Canada lifted their target price 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. Finally, UBS Group lifted their target price on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.44.

W.P. Carey Price Performance

NYSE:WPC opened at $67.62 on Thursday. The stock’s 50-day simple moving average is $67.34 and its 200 day simple moving average is $64.00. The company has a market cap of $14.81 billion, a P/E ratio of 44.49, a P/E/G ratio of 9.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.19 and a current ratio of 0.19. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. As a group, sell-side analysts forecast that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 yield of 5.4%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s dividend payout ratio (DPR) is presently 239.47%.

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.