Atlantic Union Bankshares Corp Takes $154,000 Position in W.P. Carey Inc. $WPC

Atlantic Union Bankshares Corp acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, Holdings Channel reports. The firm acquired 2,470 shares of the real estate investment trust’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in W.P. Carey by 4.6% during the first quarter. Envestnet Asset Management Inc. now owns 606,427 shares of the real estate investment trust’s stock worth $38,272,000 after purchasing an additional 26,665 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of W.P. Carey by 7.5% in the first quarter. Stratos Wealth Partners LTD. now owns 11,503 shares of the real estate investment trust’s stock valued at $726,000 after buying an additional 802 shares during the last quarter. Greenleaf Trust bought a new position in shares of W.P. Carey during the 1st quarter worth approximately $253,000. Cerity Partners LLC increased its holdings in shares of W.P. Carey by 18.9% during the 1st quarter. Cerity Partners LLC now owns 31,723 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 5,049 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in W.P. Carey by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 52,400 shares of the real estate investment trust’s stock valued at $3,307,000 after acquiring an additional 600 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Up 1.7%

Shares of WPC opened at $67.35 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.19 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79. The firm’s 50 day moving average is $67.45 and its 200-day moving average is $64.69. The stock has a market capitalization of $14.76 billion, a PE ratio of 40.82, a P/E/G ratio of 9.57 and a beta of 0.80.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business had revenue of $431.30 million during the quarter, compared to analysts’ expectations of $424.44 million. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Equities research 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 issued a dividend of $0.91 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $3.64 annualized dividend and a dividend yield of 5.4%. W.P. Carey’s payout ratio is currently 220.61%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 20th. UBS Group lifted their target price on shares of W.P. Carey from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Friday, August 15th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Evercore ISI boosted 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. Finally, Royal Bank Of Canada upped their target price on W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.89.

W.P. Carey Profile

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.