Sumitomo Mitsui Trust Group Inc. Has $41.82 Million Stake in W.P. Carey Inc. $WPC

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 670,445 shares of the real estate investment trust’s stock after purchasing an additional 1,458 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.31% of W.P. Carey worth $41,822,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. lifted its stake in W.P. Carey by 4.2% in the first quarter. GF Fund Management CO. LTD. now owns 4,145 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 168 shares during the last quarter. Griffin Asset Management Inc. lifted its stake in W.P. Carey by 0.6% in the second quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock valued at $2,011,000 after acquiring an additional 178 shares during the last quarter. BridgePort Financial Solutions LLC lifted its stake in W.P. Carey by 0.6% in the second quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock valued at $1,789,000 after acquiring an additional 180 shares during the last quarter. Cooper Financial Group lifted its stake in W.P. Carey by 1.5% in the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock valued at $749,000 after acquiring an additional 181 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in W.P. Carey by 2.8% in the first quarter. Crestwood Advisors Group LLC now owns 6,877 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. UBS Group increased 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. Barclays increased their price objective on shares of W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Finally, Evercore ISI increased their price objective on shares of 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. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.44.

W.P. Carey Price Performance

NYSE:WPC opened at $66.74 on Tuesday. W.P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $69.79. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 43.91, a P/E/G ratio of 9.66 and a beta of 0.81. The firm’s 50-day simple moving average is $67.47 and its 200 day simple moving average is $64.30. 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 (NYSE:WPC) last released its quarterly earnings results 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. W.P. Carey had a net margin of 20.42% and a return on equity of 4.00%. The business had revenue of $430.78 million for the quarter, compared to analyst estimates of $420.99 million. During the same period last year, the firm earned $1.17 earnings per share. W.P. Carey’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.91 per share. 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 5.5%. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s payout ratio is 239.47%.

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.