DNB Asset Management AS Acquires 2,138 Shares of W. P. Carey Inc. (NYSE:WPC)

DNB Asset Management AS boosted its holdings in W. P. Carey Inc. (NYSE:WPC) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,400 shares of the real estate investment trust’s stock after buying an additional 2,138 shares during the period. DNB Asset Management AS’s holdings in W. P. Carey were worth $2,004,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WPC. Cohen & Steers Inc. increased its position in W. P. Carey by 91.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after buying an additional 5,407,289 shares during the period. Norges Bank bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $157,107,000. Daiwa Securities Group Inc. increased its position in shares of W. P. Carey by 44.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after purchasing an additional 1,124,010 shares during the period. Equity Investment Corp bought a new stake in shares of W. P. Carey during the first quarter valued at approximately $59,802,000. Finally, Principal Financial Group Inc. increased its position in shares of W. P. Carey by 4,716.5% during the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after purchasing an additional 785,766 shares during the period. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Up 2.1 %

NYSE WPC traded up $1.18 on Tuesday, reaching $57.14. The company had a trading volume of 1,363,941 shares, compared to its average volume of 1,311,519. The stock’s 50 day moving average is $56.76 and its 200-day moving average is $57.27. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.07 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 1.93 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 EPS. Equities analysts predict that W. P. Carey Inc. will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

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

Analysts Set New Price Targets

WPC has been the topic of a number of research reports. Royal Bank of Canada lowered their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Scotiabank boosted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. decreased their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, 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 research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.