ABLE Financial Group LLC Buys New Shares in W. P. Carey Inc. (NYSE:WPC)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of WPC. Massmutual Trust Co. FSB ADV boosted its holdings in W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares during the period. Allspring Global Investments Holdings LLC lifted its position in W. P. Carey by 1,510.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP boosted its stake in shares of W. P. Carey by 175.9% during the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the period. Lynx Investment Advisory bought a new position in shares of W. P. Carey in the second quarter worth approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of W. P. Carey in the second quarter worth $39,000. 73.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on WPC shares. UBS Group increased 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. Scotiabank cut 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. JPMorgan Chase & Co. reduced their price target 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. Evercore ISI increased their price objective on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Barclays boosted their target price on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Stock Up 1.4 %

Shares of NYSE:WPC traded up $0.77 during trading on Friday, hitting $56.47. The stock had a trading volume of 175,484 shares, compared to its average volume of 1,213,278. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12 month low of $53.01 and a 12 month high of $67.40. The company has a market capitalization of $12.36 billion, a PE ratio of 21.94, a PEG ratio of 1.03 and a beta of 0.95. The firm’s fifty day moving average is $60.11 and its 200 day moving average is $58.20.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to the consensus estimate of $377.43 million. During the same period in the previous year, the firm earned $1.32 EPS. The company’s revenue was down 11.9% on a year-over-year basis. Analysts anticipate that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. 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 6.20%. W. P. Carey’s payout ratio is presently 137.80%.

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.