Harbour Investments Inc. Has $173,000 Position in W.P. Carey Inc. $WPC

Harbour Investments Inc. reduced its stake in W.P. Carey Inc. (NYSE:WPC) by 6.5% in the 2nd quarter, Holdings Channel reports. The firm owned 2,768 shares of the real estate investment trust’s stock after selling 194 shares during the period. Harbour Investments Inc.’s holdings in W.P. Carey were worth $173,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WPC. von Borstel & Associates Inc. acquired a new position in shares of W.P. Carey during the first quarter worth approximately $26,000. TCTC Holdings LLC lifted its holdings in shares of W.P. Carey by 100.8% during the first quarter. TCTC Holdings LLC now owns 482 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 242 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of W.P. Carey during the first quarter worth approximately $37,000. V Square Quantitative Management LLC acquired a new position in shares of W.P. Carey during the second quarter worth approximately $40,000. Finally, REAP Financial Group LLC lifted its holdings in shares of W.P. Carey by 56.4% during the second quarter. REAP Financial Group LLC now owns 660 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 238 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

Shares of NYSE WPC opened at $67.62 on Thursday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $67.34 and a 200 day simple moving average of $64.00. W.P. Carey Inc. has a one year low of $52.91 and a one year high of $69.79. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 9.77 and a beta of 0.81.

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

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.91 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, September 30th. W.P. Carey’s dividend payout ratio is currently 239.47%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank Of Canada upped their price target on W.P. Carey from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Evercore ISI upped their price target on W.P. Carey from $66.00 to $70.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Scotiabank upped their target price 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. Wells Fargo & Company upgraded W.P. Carey from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $68.00 to $72.00 in a research note on Thursday, September 11th. Finally, UBS Group upped their target price on W.P. Carey from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.44.

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.