W. P. Carey Inc. (NYSE:WPC) Shares Sold by FLC Capital Advisors

FLC Capital Advisors reduced its position in W. P. Carey Inc. (NYSE:WPC) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,268 shares of the real estate investment trust’s stock after selling 393 shares during the quarter. FLC Capital Advisors’ holdings in W. P. Carey were worth $515,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of W. P. Carey in the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 93.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of W. P. Carey by 1,510.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 453 shares during the period. Riverview Trust Co acquired a new stake in shares of W. P. Carey during the first quarter worth $28,000. Finally, Quarry LP lifted its holdings 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 worth $31,000 after purchasing an additional 357 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark A. Alexander purchased 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, for a total transaction of $195,545.00. Following the completion of the transaction, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of several recent research reports. UBS Group increased their price target on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays increased 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, October 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada decreased 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. Finally, JPMorgan Chase & Co. reduced their target price 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.25.

W. P. Carey Price Performance

W. P. Carey stock opened at $59.93 on Thursday. W. P. Carey Inc. has a one year low of $51.60 and a one year high of $67.40. The company has a market cap of $13.11 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The business has a fifty day moving average of $60.40 and a two-hundred day moving average of $58.00. 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 (NYSE:WPC) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $389.70 million during the quarter, compared to analysts’ expectations of $381.39 million. During the same quarter in the prior year, the business earned $1.36 EPS. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, 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 company also recently declared 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 5.84%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 133.08%.

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.