Insight Wealth Partners LLC Sells 1,301 Shares of W. P. Carey Inc. (NYSE:WPC)

Insight Wealth Partners LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 25.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,820 shares of the real estate investment trust’s stock after selling 1,301 shares during the quarter. Insight Wealth Partners LLC’s holdings in W. P. Carey were worth $238,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WPC. Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 22.2% in 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 purchasing an additional 588,636 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after acquiring an additional 479,973 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of W. P. Carey by 185.7% during the 2nd quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock valued at $37,631,000 after acquiring an additional 444,785 shares during the period. Equity Investment Corp boosted its stake in W. P. Carey by 38.9% during the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after acquiring an additional 412,450 shares in the last quarter. Finally, FMR LLC grew its holdings in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

WPC opened at $56.84 on Wednesday. W. P. Carey Inc. has a 1 year low of $53.09 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $58.83 and its two-hundred day moving average price is $58.22. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.07 and a beta of 0.95.

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 for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. As a group, analysts anticipate that W. P. Carey Inc. will post 4.52 earnings per share 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. Investors of record on Monday, September 30th were given a dividend of $0.875 per share. The ex-dividend date was Monday, September 30th. This represents a $3.50 annualized dividend and a yield of 6.16%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 137.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WPC. Evercore ISI upped their price objective on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays upped their price target on 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Scotiabank reduced their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.88.

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.