Syntegra Private Wealth Group LLC Sells 435 Shares of W. P. Carey Inc. (NYSE:WPC)

Syntegra Private Wealth Group LLC lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 11.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,421 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in W. P. Carey were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Dupree Financial Group LLC raised its stake in shares of W. P. Carey by 0.5% in the third quarter. Dupree Financial Group LLC now owns 98,895 shares of the real estate investment trust’s stock worth $6,161,000 after buying an additional 531 shares during the period. Eastern Bank bought a new stake in W. P. Carey during the 3rd quarter valued at approximately $60,000. Sequoia Financial Advisors LLC raised its stake in W. P. Carey by 82.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 146,900 shares of the real estate investment trust’s stock valued at $9,152,000 after purchasing an additional 66,577 shares during the period. Venture Visionary Partners LLC bought a new stake in W. P. Carey during the 3rd quarter valued at approximately $201,000. Finally, Brown Lisle Cummings Inc. raised its stake in W. P. Carey by 2.5% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 47,106 shares of the real estate investment trust’s stock valued at $2,935,000 after purchasing an additional 1,144 shares during the period. Institutional investors own 73.73% of the company’s stock.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander acquired 3,500 shares of the company’s 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 acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.08% of the stock is owned by company insiders.

W. P. Carey Trading Up 0.3 %

Shares of W. P. Carey stock traded up $0.15 on Wednesday, reaching $59.20. The company had a trading volume of 73,976 shares, compared to its average volume of 1,208,122. The firm has a market cap of $12.95 billion, a price-to-earnings ratio of 22.52, a P/E/G ratio of 1.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The firm’s 50-day moving average price is $60.63 and its two-hundred day moving average price is $58.13. W. P. Carey Inc. has a 1 year low of $51.60 and a 1 year high of $67.40.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS 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 analysts’ expectations of $381.39 million. W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. W. P. Carey’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. As a group, research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.875 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 5.91%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is presently 133.08%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WPC shares. Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Scotiabank decreased their target price on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price target (up previously from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Finally, Royal Bank of Canada cut their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently 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.