Dynamic Advisor Solutions LLC Takes $889,000 Position in W.P. Carey Inc. (NYSE:WPC)

Dynamic Advisor Solutions LLC purchased a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,088 shares of the real estate investment trust’s stock, valued at approximately $889,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in W.P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock valued at $1,679,110,000 after purchasing an additional 242,576 shares in the last quarter. Geode Capital Management LLC grew its stake in W.P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in W.P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in W.P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock valued at $143,926,000 after purchasing an additional 43,197 shares in the last quarter. Finally, Northern Trust Corp grew its stake in W.P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the topic of a number of recent research reports. BMO Capital Markets upgraded W.P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank Of Canada boosted their target price on W.P. Carey from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. UBS Group lowered their target price on W.P. Carey from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. BNP Paribas set a $66.00 price target on W.P. Carey and gave the stock a “neutral” rating in a research note on Monday, June 9th. Finally, Wells Fargo & Company upped their price target on W.P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, W.P. Carey presently has an average rating of “Hold” and a consensus target price of $100.40.

W.P. Carey Stock Performance

WPC opened at $62.93 on Wednesday. The company has a market cap of $13.78 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 6.54 and a beta of 0.80. The stock has a 50-day moving average of $61.51 and a 200-day moving average of $59.32. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.23 and a current ratio of 0.23.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The business had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same quarter in the previous year, the company earned $1.14 EPS. W.P. Carey’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.90 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.60 annualized dividend and a yield of 5.72%. W.P. Carey’s dividend payout ratio is presently 183.51%.

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.