Impact Partnership Wealth LLC Makes New $499,000 Investment in W. P. Carey Inc. (NYSE:WPC)

Impact Partnership Wealth LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,010 shares of the real estate investment trust’s stock, valued at approximately $499,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. HB Wealth Management LLC increased its stake in W. P. Carey by 247.3% during the 2nd quarter. HB Wealth Management LLC now owns 12,419 shares of the real estate investment trust’s stock valued at $684,000 after purchasing an additional 8,843 shares in the last quarter. SG Americas Securities LLC lifted its position in W. P. Carey by 41.9% during the 3rd quarter. SG Americas Securities LLC now owns 156,373 shares of the real estate investment trust’s stock worth $9,742,000 after acquiring an additional 46,181 shares during the period. EverSource Wealth Advisors LLC grew its stake in W. P. Carey by 69.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of W. P. Carey by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 456,149 shares of the real estate investment trust’s stock valued at $25,749,000 after purchasing an additional 9,324 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of W. P. Carey by 9.8% in the second quarter. QRG Capital Management Inc. now owns 108,156 shares of the real estate investment trust’s stock worth $5,954,000 after purchasing an additional 9,619 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Evercore ISI boosted their target price on shares of 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. JPMorgan Chase & Co. lowered their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. UBS Group lifted their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 target price (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $0.37 on Thursday, hitting $59.40. The company’s stock had a trading volume of 45,562 shares, compared to its average volume of 1,205,333. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The firm has a fifty day moving average price of $60.67 and a 200-day moving average price of $58.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.93 and a current ratio of 1.93. 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 posted 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). The company had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is currently 133.08%.

Insider Buying and Selling at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the acquisition, the director now directly owns 38,124 shares of the company’s stock, valued at $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

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.