W. P. Carey Inc. (NYSE:WPC) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 16.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,321 shares of the real estate investment trust’s stock after purchasing an additional 3,079 shares during the quarter. Naviter Wealth LLC’s holdings in W. P. Carey were worth $1,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in shares of W. P. Carey during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its position in W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co acquired a new stake in shares of W. P. Carey during the 1st quarter worth $28,000. Finally, Quarry LP raised its position in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

WPC opened at $59.31 on Friday. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month high of $67.40. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.11 and a beta of 0.94. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $60.45 and a 200 day simple moving average of $58.00.

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 for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $389.70 million for the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. The firm’s revenue was down 13.9% on a year-over-year basis. Equities research analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s payout ratio is currently 133.08%.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of research reports. Evercore ISI raised their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Barclays raised their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Scotiabank decreased their price objective on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. UBS Group raised their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada decreased 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $63.25.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now directly owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.08% of the stock is currently owned by company insiders.

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.