GAMMA Investing LLC Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

GAMMA Investing LLC raised its holdings in W. P. Carey Inc. (NYSE:WPC) by 74.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,232 shares of the real estate investment trust’s stock after acquiring an additional 950 shares during the period. GAMMA Investing LLC’s holdings in W. P. Carey were worth $123,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in W. P. Carey in the first quarter valued at $26,000. First United Bank & Trust purchased a new stake in W. P. Carey in the fourth quarter valued at $27,000. Riverview Trust Co purchased a new stake in W. P. Carey in the first quarter valued at $28,000. YHB Investment Advisors Inc. purchased a new stake in W. P. Carey in the first quarter valued at $30,000. Finally, EdgeRock Capital LLC purchased a new stake in W. P. Carey in the fourth quarter valued at $32,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. decreased their price objective on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. UBS Group raised their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada decreased their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.91.

W. P. Carey Trading Up 2.1 %

WPC opened at $57.14 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. The company’s 50 day simple moving average is $56.78 and its two-hundred day simple moving average is $57.21. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

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

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.09%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

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.