Concord Wealth Partners Acquires 266 Shares of W.P. Carey Inc. $WPC

Concord Wealth Partners increased its position in W.P. Carey Inc. (NYSE:WPC) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,055 shares of the real estate investment trust’s stock after purchasing an additional 266 shares during the quarter. Concord Wealth Partners’ holdings in W.P. Carey were worth $128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. von Borstel & Associates Inc. bought a new position in W.P. Carey in the first quarter worth $26,000. TCTC Holdings LLC lifted its position in W.P. Carey by 100.8% in the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 242 shares during the period. Cheviot Value Management LLC bought a new position in W.P. Carey in the first quarter worth $37,000. V Square Quantitative Management LLC bought a new position in W.P. Carey in the second quarter worth $40,000. Finally, REAP Financial Group LLC lifted its position in W.P. Carey by 56.4% in the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 238 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Price Performance

Shares of WPC stock opened at $67.50 on Tuesday. The stock has a 50-day moving average price of $67.01 and a 200 day moving average price of $63.73. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 9.67 and a beta of 0.81. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $69.79.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analyst estimates of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. Research analysts expect 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 will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.91 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 5.4%. W.P. Carey’s dividend payout ratio is 239.47%.

Analyst Ratings Changes

Several brokerages recently commented on WPC. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Thursday, September 11th. Scotiabank raised their target price on W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, September 5th. Royal Bank Of Canada increased their price objective on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price objective on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.22.

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.