Keynote Financial Services LLC Buys Shares of 3,785 W. P. Carey Inc. (NYSE:WPC)

Keynote Financial Services LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,785 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Several other large investors have also modified their holdings of WPC. Blue Trust Inc. boosted its position in shares of W. P. Carey by 47.3% during the fourth quarter. Blue Trust Inc. now owns 1,087 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 349 shares during the period. Fifth Third Bancorp boosted its holdings in shares of W. P. Carey by 47.3% in the fourth quarter. Fifth Third Bancorp now owns 7,926 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 2,545 shares during the period. State of Michigan Retirement System purchased a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $3,403,000. Ballentine Partners LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $451,000. Finally, Arizona State Retirement System boosted its holdings in shares of W. P. Carey by 0.8% in the fourth quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust’s stock valued at $3,811,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.1 %

Shares of WPC stock traded down $0.06 during trading hours on Friday, reaching $57.23. 1,576,385 shares of the company’s stock were exchanged, compared to its average volume of 1,184,878. The stock’s 50 day moving average is $56.78 and its 200-day moving average is $57.39. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $67.75.

W. P. Carey (NYSE:WPC) last issued 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 business 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 business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. Analysts predict 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 given a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 6.08%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, June 28th. W. P. Carey’s dividend payout ratio is presently 132.32%.

Analyst Ratings Changes

WPC has been the subject of a number of research reports. UBS Group boosted their price target on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. JPMorgan Chase & Co. lowered their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada lowered their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wells Fargo & Company reduced 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 note on Thursday, May 30th. One 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 MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average target price 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.