Rakuten Investment Management Inc. Invests $14.36 Million in W.P. Carey Inc. $WPC

Rakuten Investment Management Inc. purchased a new position in W.P. Carey Inc. (NYSE:WPC) during the third quarter, Holdings Channel reports. The fund purchased 212,445 shares of the real estate investment trust’s stock, valued at approximately $14,355,000.

A number of other large investors have also added to or reduced their stakes in the stock. Samalin Investment Counsel LLC raised its position in W.P. Carey by 9.2% in the third quarter. Samalin Investment Counsel LLC now owns 15,696 shares of the real estate investment trust’s stock worth $1,061,000 after acquiring an additional 1,325 shares during the period. Root Financial Partners LLC purchased a new stake in shares of W.P. Carey during the 3rd quarter worth approximately $322,000. Arkadios Wealth Advisors increased its stake in shares of W.P. Carey by 1.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 36,430 shares of the real estate investment trust’s stock worth $2,462,000 after purchasing an additional 485 shares during the last quarter. Allstate Corp bought a new stake in shares of W.P. Carey in the 3rd quarter worth approximately $527,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in W.P. Carey by 46.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 310,200 shares of the real estate investment trust’s stock valued at $21,159,000 after purchasing an additional 98,706 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

NYSE:WPC opened at $69.62 on Thursday. The business’s fifty day moving average is $66.31 and its 200 day moving average is $66.22. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 5.97 and a beta of 0.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.25. W.P. Carey Inc. has a 52-week low of $53.93 and a 52-week high of $70.28.

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

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.92 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, December 31st. W.P. Carey’s dividend payout ratio is presently 223.03%.

Analysts Set New Price Targets

Several equities analysts have weighed in on WPC shares. Evercore ISI reduced their price objective on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Royal Bank Of Canada increased their price target on W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 7th. Citigroup lifted their price objective on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. lowered their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.70.

W.P. Carey Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.