622 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Lynx Investment Advisory

Lynx Investment Advisory bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the second quarter, HoldingsChannel.com reports. The fund bought 622 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Other hedge funds also recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new position in shares of W. P. Carey during the 1st quarter worth about $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of W. P. Carey by 93.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of W. P. Carey during the 4th quarter valued at $27,000. Riverview Trust Co acquired a new stake in shares of W. P. Carey during the 1st quarter worth $28,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of W. P. Carey in the 1st quarter worth $30,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

W. P. Carey stock traded down $0.11 during trading hours on Wednesday, hitting $57.01. 369,211 shares of the company traded hands, compared to its average volume of 1,305,278. The firm’s 50-day simple moving average is $56.78 and its two-hundred day simple moving average is $57.21. The firm has a market cap of $12.48 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.07 and a beta of 0.92. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The firm had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same quarter last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, analysts forecast that W. P. Carey Inc. will post 4.53 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date was Friday, June 28th. W. P. Carey’s payout ratio is presently 132.32%.

Analysts Set New Price Targets

Several brokerages have commented on WPC. JPMorgan Chase & Co. dropped their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Scotiabank increased their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. UBS Group raised their price objective on shares of W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company cut their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.91.

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.