HORAN Wealth LLC Takes $1.12 Million Position in W.P. Carey Inc. $WPC

HORAN Wealth LLC bought a new stake in W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, Holdings Channel reports. The firm bought 17,949 shares of the real estate investment trust’s stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Griffin Asset Management Inc. grew its position in shares of 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 purchasing an additional 178 shares during the last quarter. BridgePort Financial Solutions LLC grew its position in shares of 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 purchasing an additional 180 shares during the last quarter. Cooper Financial Group boosted its stake in shares of 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 buying an additional 181 shares during the period. Crestwood Advisors Group LLC boosted its stake in shares of 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 buying an additional 185 shares during the period. Finally, Kovack Advisors Inc. boosted its stake in shares of W.P. Carey by 3.3% in the second quarter. Kovack Advisors Inc. now owns 5,779 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Stock Up 0.8%

Shares of NYSE:WPC opened at $66.48 on Thursday. The company has a fifty day moving average of $67.45 and a 200-day moving average of $64.59. The company has a market capitalization of $14.57 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 9.57 and a beta of 0.81. 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 Inc. has a 52-week low of $52.91 and a 52-week high of $69.79.

W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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%.W.P. Carey’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, equities analysts predict that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders 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 an increase from W.P. Carey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, September 30th. W.P. Carey’s payout ratio is currently 220.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank boosted their price target on 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 price target on W.P. Carey from $64.00 to $66.00 and gave the company an “underweight” rating in a research note on Monday, October 20th. Evercore ISI boosted their price target on W.P. Carey from $70.00 to $72.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada boosted their price target on W.P. Carey from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.89.

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.