Lynx Investment Advisory Buys Shares of 622 W. P. Carey Inc. (NYSE:WPC)

Lynx Investment Advisory purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 622 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp increased its position in shares of W. P. Carey by 47.3% during the fourth quarter. Fifth Third Bancorp now owns 7,926 shares of the real estate investment trust’s stock worth $514,000 after purchasing an additional 2,545 shares in the last quarter. Ballentine Partners LLC purchased a new stake in W. P. Carey during the 4th quarter worth approximately $451,000. Arizona State Retirement System raised 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 worth $3,811,000 after buying an additional 439 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of W. P. Carey by 6,411.6% in the fourth quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock worth $26,579,000 after buying an additional 403,803 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of W. P. Carey during the fourth quarter valued at $666,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WPC. Scotiabank lifted their price target on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. UBS Group upped their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of 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. Finally, Wells Fargo & Company reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.91.

W. P. Carey Price Performance

WPC stock traded down $0.11 during mid-day trading on Wednesday, reaching $57.01. 369,211 shares of the company’s stock were exchanged, compared to its average volume of 1,305,278. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 0.90. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $67.40. The stock’s 50 day moving average is $56.78 and its 200 day moving average is $57.21. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last announced its 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 analysts’ expectations 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 quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. On average, research analysts expect that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.87 dividend. The ex-dividend date was Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.10%. W. P. Carey’s payout ratio is currently 132.32%.

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.