Armstrong Fleming & Moore Inc Purchases Shares of 8,115 W.P. Carey Inc. $WPC

Armstrong Fleming & Moore Inc purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, Holdings Channel reports. The firm purchased 8,115 shares of the real estate investment trust’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of W.P. Carey by 274.7% during the first quarter. JPMorgan Chase & Co. now owns 5,112,190 shares of the real estate investment trust’s stock worth $322,630,000 after buying an additional 3,747,898 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in W.P. Carey by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,218,419 shares of the real estate investment trust’s stock valued at $266,224,000 after buying an additional 195,466 shares during the last quarter. Northern Trust Corp grew its position in W.P. Carey by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,696,844 shares of the real estate investment trust’s stock valued at $170,198,000 after buying an additional 55,615 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in W.P. Carey by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,662,310 shares of the real estate investment trust’s stock worth $168,018,000 after buying an additional 20,495 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in W.P. Carey by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,257,017 shares of the real estate investment trust’s stock valued at $142,440,000 after purchasing an additional 68,414 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WPC shares. Scotiabank lifted 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. Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday. Royal Bank Of Canada lifted their price objective on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Evercore ISI lifted their target price on shares of W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Finally, Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $72.00 in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.22.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $67.25 on Thursday. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 44.24, a PEG ratio of 9.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.19 and a quick ratio of 0.19. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The business has a 50-day moving average of $66.88 and a 200-day moving average of $63.60.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $430.78 million during the quarter, compared to analysts’ expectations of $420.99 million. W.P. Carey had a return on equity of 4.00% and a net margin of 20.42%.W.P. Carey’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. W.P. Carey has set its FY 2025 guidance at 4.870-4.950 EPS. On average, equities analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.64 dividend on an annualized basis and a yield of 5.4%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. W.P. Carey’s dividend payout ratio (DPR) is presently 239.47%.

About W.P. Carey

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.