W. P. Carey Inc. (NYSE:WPC) Shares Bought by TruWealth Advisors LLC

TruWealth Advisors LLC lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 15.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,578 shares of the real estate investment trust’s stock after acquiring an additional 31,297 shares during the quarter. TruWealth Advisors LLC owned 0.11% of W. P. Carey worth $14,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WPC. Equity Investment Corp purchased a new stake in W. P. Carey during the 1st quarter worth about $59,802,000. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 22.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after buying an additional 588,636 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of W. P. Carey by 185.7% during the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after buying an additional 444,785 shares during the period. PGGM Investments raised its holdings in W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock valued at $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in W. P. Carey by 211.6% in the first quarter. Cetera Investment Advisers now owns 360,336 shares of the real estate investment trust’s stock worth $20,337,000 after acquiring an additional 244,699 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Activity

In other news, Director Mark A. Alexander acquired 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now directly owns 38,124 shares in the company, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WPC. Barclays raised their price objective 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. Royal Bank of Canada dropped their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Evercore ISI raised their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, UBS Group boosted their target price on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average price target of $63.25.

W. P. Carey Price Performance

WPC stock opened at $59.31 on Friday. The business has a 50 day simple moving average of $60.45 and a 200-day simple moving average of $58.00. The company has a market capitalization of $12.98 billion, a P/E ratio of 22.55, a PEG ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a twelve month low of $51.60 and a twelve month 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.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. During the same period in the previous year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

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

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.