W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 20.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,837 shares of the real estate investment trust’s stock after purchasing an additional 29,527 shares during the period. Carnegie Investment Counsel owned about 0.08% of W. P. Carey worth $10,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its stake in shares of W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares in the last quarter. Catalytic Wealth RIA LLC raised its position in shares of W. P. Carey by 5.2% in the second quarter. Catalytic Wealth RIA LLC now owns 4,033 shares of the real estate investment trust’s stock valued at $222,000 after purchasing an additional 198 shares during the period. Kowal Investment Group LLC lifted its stake in shares of W. P. Carey by 3.4% in the second quarter. Kowal Investment Group LLC now owns 6,070 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 199 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 208 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in W. P. Carey by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 209 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their target price 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. 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 report on Thursday. Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada dropped their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Price Performance

NYSE:WPC opened at $59.82 on Friday. The company has a 50-day moving average of $60.20 and a 200-day moving average of $57.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.11 and a beta of 0.94. W. P. Carey Inc. has a 52 week low of $51.60 and a 52 week high of $67.40.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data 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 company had revenue of $389.70 million during the quarter, compared to analyst estimates of $381.39 million. During the same quarter in the previous year, the business posted $1.36 EPS. The company’s revenue was down 13.9% compared to the same quarter last year. As a group, equities research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.875 per share. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.85%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is presently 133.08%.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the transaction, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.08% of the stock is currently owned by 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.