NewSquare Capital LLC Has $4.27 Million Holdings in W.P. Carey Inc. $WPC

NewSquare Capital LLC grew its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,393 shares of the real estate investment trust’s stock after acquiring an additional 3,005 shares during the period. NewSquare Capital LLC’s holdings in W.P. Carey were worth $4,266,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC raised its position in shares of 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 valued at $30,000 after buying an additional 242 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of W.P. Carey in the first quarter valued at approximately $37,000. V Square Quantitative Management LLC acquired a new stake in shares of W.P. Carey in the second quarter valued at approximately $40,000. REAP Financial Group LLC raised its position in shares of 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 valued at $41,000 after buying an additional 238 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of W.P. Carey in the second quarter valued at approximately $43,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WPC shares. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, October 8th. Wells Fargo & Company raised shares of W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Scotiabank lifted their price objective 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. Barclays boosted their target price on shares of W.P. Carey from $64.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 20th. Finally, Evercore ISI boosted their price objective on shares of W.P. Carey from $70.00 to $72.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.89.

W.P. Carey Stock Performance

W.P. Carey stock opened at $65.91 on Tuesday. The stock has a market cap of $14.44 billion, a P/E ratio of 39.95, a price-to-earnings-growth ratio of 9.57 and a beta of 0.81. The firm’s fifty day moving average price is $67.46 and its 200-day moving average price is $64.55. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $69.79. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.19 and a current ratio of 0.25.

W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The business also recently disclosed 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 represents a $3.64 dividend on an annualized basis and a yield of 5.5%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s payout ratio is currently 220.61%.

W.P. Carey Company 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.