Credit Suisse AG Has $36.26 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Posted by Defense World Staff on Aug 22nd, 2023

Credit Suisse AG boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC – Free Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,219 shares of the real estate investment trust’s stock after buying an additional 43,521 shares during the period. Credit Suisse AG owned approximately 0.22% of W. P. Carey worth $36,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in W. P. Carey during the first quarter valued at $26,000. Acadian Asset Management LLC purchased a new position in W. P. Carey in the first quarter valued at about $26,000. Robbins Farley purchased a new position in W. P. Carey in the first quarter valued at about $27,000. Thompson Investment Management Inc. purchased a new position in W. P. Carey in the first quarter valued at about $27,000. Finally, ICA Group Wealth Management LLC purchased a new position in W. P. Carey in the fourth quarter valued at about $32,000. 63.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WPC has been the topic of a number of recent research reports. StockNews.com initiated coverage on W. P. Carey in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada lowered their target price on W. P. Carey from $81.00 to $79.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. BNP Paribas began coverage on W. P. Carey in a research note on Wednesday, June 14th. They issued an “underperform” rating and a $74.00 target price on the stock. Bank of America downgraded W. P. Carey from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $78.00 to $67.00 in a research note on Monday, August 14th. Finally, JMP Securities lowered their price objective on W. P. Carey from $86.00 to $80.00 in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $78.67.

Get Our Latest Stock Analysis on WPC

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $63.71 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 7.09 and a beta of 0.76. The business’s 50-day simple moving average is $68.28 and its 200-day simple moving average is $73.03. W. P. Carey Inc. has a 52 week low of $63.10 and a 52 week high of $87.65.

W. P. Carey (NYSE:WPC – Get Free Report) last released its earnings results on Friday, July 28th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.62). The business had revenue of $452.60 million during the quarter, compared to analyst estimates of $430.48 million. W. P. Carey had a net margin of 45.21% and a return on equity of 8.28%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS. As a group, equities research analysts expect that W. P. Carey Inc. will post 5.21 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $1.069 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 6.71%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s dividend payout ratio (DPR) is 119.89%.

About W. P. Carey

(Free Report)

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $25 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,446 net lease properties covering approximately 176 million square feet and a portfolio of 84 self-storage operating properties, as of March 31, 2023.