W.P. Carey Inc. $WPC Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its position in W.P. Carey Inc. (NYSE:WPC) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,037 shares of the real estate investment trust’s stock after selling 2,107 shares during the quarter. Meritage Portfolio Management’s holdings in W.P. Carey were worth $4,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of W.P. Carey by 109.8% in the 1st quarter. Farther Finance Advisors LLC now owns 5,464 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 2,859 shares during the period. GAMMA Investing LLC raised its stake in shares of W.P. Carey by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 2,570 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 681 shares during the period. Griffin Asset Management Inc. raised its stake in shares of W.P. Carey by 7.7% in the 1st quarter. Griffin Asset Management Inc. now owns 32,058 shares of the real estate investment trust’s stock valued at $2,023,000 after acquiring an additional 2,289 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of W.P. Carey by 3.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,509 shares of the real estate investment trust’s stock valued at $13,096,000 after acquiring an additional 6,000 shares during the period. Finally, IAG Wealth Partners LLC raised its stake in shares of 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 acquiring an additional 163 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of WPC opened at $66.81 on Friday. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The firm’s 50 day moving average price is $66.98 and its 200 day moving average price is $63.68. The company has a market cap of $14.63 billion, a P/E ratio of 43.95, a PEG ratio of 9.67 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping 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 firm had revenue of $430.78 million for the quarter, compared to the consensus estimate of $420.99 million. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.91 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 annualized dividend and a yield of 5.4%. W.P. Carey’s dividend payout ratio (DPR) is presently 239.47%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WPC shares. Barclays boosted their price target on shares of W.P. Carey from $61.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. UBS Group boosted their price target on shares of W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Scotiabank boosted their price target on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.