Abich Financial Wealth Management LLC Grows Stock Position in W. P. Carey Inc. (NYSE:WPC)

Abich Financial Wealth Management LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 2,374.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 668 shares of the real estate investment trust’s stock after purchasing an additional 641 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in W. P. Carey were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WPC. Equity Investment Corp acquired a new position in W. P. Carey during the first quarter worth $59,802,000. Massachusetts Financial Services Co. MA raised its holdings in W. P. Carey by 22.2% during 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. 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 worth $37,631,000 after buying an additional 444,785 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after buying an additional 400,782 shares in the last quarter. Finally, PGGM Investments raised its stake in W. P. Carey by 18.5% during the 2nd quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after acquiring an additional 389,853 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays raised their price objective on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. 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 research note on Tuesday, October 1st. Evercore ISI boosted their price objective 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 price objective on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

W. P. Carey Price Performance

NYSE:WPC traded down $0.20 during mid-day trading on Tuesday, hitting $57.28. 128,029 shares of the company’s stock traded hands, compared to its average volume of 1,202,238. W. P. Carey Inc. has a 1 year low of $51.60 and a 1 year high of $67.40. The company has a market cap of $12.53 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. 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 firm’s 50 day simple moving average is $60.69 and its 200 day simple moving average is $58.18.

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 for the quarter, compared to analyst estimates of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. W. P. Carey’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.11%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 133.08%.

Insider Activity at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.08% of the company’s stock.

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.