Austin Private Wealth LLC Sells 1,124 Shares of W. P. Carey Inc. (NYSE:WPC)

Austin Private Wealth LLC decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,042 shares of the real estate investment trust’s stock after selling 1,124 shares during the period. Austin Private Wealth LLC’s holdings in W. P. Carey were worth $439,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WPC. Massmutual Trust Co. FSB ADV increased its position in shares of W. P. Carey by 35.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 172 shares during the period. Catalytic Wealth RIA LLC increased its holdings in W. P. Carey by 5.2% during the 2nd quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC raised its position in W. P. Carey by 3.4% during the 2nd quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 199 shares in the last quarter. Creative Planning lifted its holdings in shares of W. P. Carey by 0.3% in the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after buying an additional 207 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of W. P. Carey by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 212 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Down 0.2 %

WPC stock traded down $0.10 on Tuesday, hitting $55.24. 123,216 shares of the company’s stock were exchanged, compared to its average volume of 1,210,829. The firm has a 50 day moving average price of $60.35 and a two-hundred day moving average price of $58.24. W. P. Carey Inc. has a 12-month low of $53.01 and a 12-month high of $67.40. The stock has a market cap of $12.09 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). The company had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a dividend yield of 6.34%. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is presently 137.80%.

Insider Activity

In other news, Director Mark A. Alexander bought 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $55.87 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. UBS Group increased their price objective 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. Scotiabank lowered their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada reduced their price target on 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 assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.25.

About W. P. Carey

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.