Naviter Wealth LLC Buys 1,126 Shares of W. P. Carey Inc. (NYSE:WPC)

Naviter Wealth LLC lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 6.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,242 shares of the real estate investment trust’s stock after acquiring an additional 1,126 shares during the period. Naviter Wealth LLC’s holdings in W. P. Carey were worth $1,076,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of W. P. Carey in the fourth quarter worth $157,107,000. HB Wealth Management LLC boosted its holdings in W. P. Carey by 247.3% during the second quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after acquiring an additional 8,843 shares during the period. Principal Securities Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $951,000. M&T Bank Corp increased its stake in shares of W. P. Carey by 2.7% in the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after purchasing an additional 825 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of W. P. Carey by 2.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock worth $25,749,000 after purchasing an additional 9,324 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.08% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on W. P. Carey from $61.00 to $63.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Scotiabank dropped their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company raised their price target on shares of W. P. Carey from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada cut their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

W. P. Carey Trading Up 0.6 %

WPC stock opened at $60.40 on Wednesday. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $67.40. 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 business’s 50 day moving average is $57.74 and its 200-day moving average is $56.87. The firm has a market cap of $13.22 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.12 and a beta of 0.92.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share 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 business’s revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Equities analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is currently 132.32%.

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.